See accounting policies AA and BB.
| 31 December 2022 | 31 December 2021 |
---|---|---|
Loans | 152 | 137 |
Lease liabilities | 62 | 55 |
| | |
Total Borrowings | 214 | 192 |
As at year-end, borrowings had the following terms to maturity:
| 31 December 2022 | 31 December 2021 |
---|---|---|
Maturity - Falling due within 1 year | 20 | 9 |
Maturity - Falling due between 1 and 5 years | 61 | 58 |
Maturity - Falling due after 5 years | 134 | 124 |
| | |
Maturity Borrowings | 214 | 192 |
Borrowings increased mainly due to the acquisition of wind farm Strekdammen, which was partially financed by a loan of € 19 million. At year-end 2022, the fair value of borrowings was € 214 million (2021: € 192 million). For information regarding the fair value, see chapter 6.7.1.2. The average interest rate payable on loans was 1.40% (2021: 0.59%). The average incremental borrowing rate on the lease liabilities was 1.48% (2021: 1.63%).