(from Note 17 "Non - recurrent financial liabilities", Consolidated Financial Statement as at 31 December 2017)
                                                                                      31/12/2017 31/12/2016
Medium/long term mortgages and loans            
  - Current portion of medium/longterm loans
  711,395 668,439
Medium/long term project financing 
 - Current portion of project financing
  970,891 1,123,674
Other medium/long-term financial payables 106,428 141,947
Total 1,788,714 1,934,060

Medium/long-term mortgages and loans
Mortgages and loans at 31 December 2017 totalled EUR 770 million (EUR 668.4 million at 31 December 2016), and they refer to:

• a corporate acquisition loan of EUR 350 million, subscribed by seven mandated Italian and foreign lead arrangers and bookrunners concerning the acquisition of the entire hydroelectric business belonging to E.ON Produzione, now ERG Hydro S.r.l.;

• three bilateral corporate loans with Mediobanca S.p.A. (EUR 150 million) and UBI Banca S.p.A. (EUR 100 million) concluded in the first half of 2016 to refinance the short-term portion of the corporate acquisition loan concluded for the acquisition of ERG Hydro S.r.l. and with Unicredit S.p.A. (EUR 75 million) for the project loan relating to the wind farm at Corni (Romania);

• liability deriving from the issue of the non convertible bond (EUR 99 million at 31 December 2017) made in July 2017, directed at raising additional funds for new capital expenditure in the sector of renewable energies and to refinance the capital expenditure made on hydroelectric plants in Italy.

The loans are presented net of commission cost and other ancillary costs for an initial value of EUR 10.6 million. These costs were recognised according to the cost method.

Medium - long term project financing

The following tables show the main characteristics of existing Project Financing at 31 December 2017:


For further details on the new Project Financing compared to those described in the 2016 Annual Financial Report, please see Note 25 - Covenants and negative pledges.
At 31 December 2017, the weighted average interest rate on mortgages, loans and Project Financing was 1.48% (1.42% at 31 December 2016). The rate indicated does not take into account interest rate hedges.

The breakdown by due year for repayments on existing medium/long-term bank loans is as follows:
                                                               Loans and Financing operations Project Financing
By the end of 31.12.2018 58,625 143,815
By the end of 31.12.2019 179,750 152,654
By the end of 31.12.2020 299,125 157,474
By the end of 31.12.2021 133,055 141,333
By the end of 31.12.2022 - 392,858
Beyond of 31.12.2022 99,465 126,573
Total 770,020 1,114,706


                                                                 31/12/2017 31/12/2016
Covered by owned tangible assets
with expiration dates up to December 2026
1,114,706 1,275,580
Not covered 
with expiration dates up to August 2020
770,020 668,439
Total 1,884,726 1,944,020


Refer to Note 25 for a comment on Covenants and negative pledges related to bank debts.

Other medium/long-term financial payables

Other medium/long-term financial payables include liabilities deriving from the fair value measurement of the derivatives hedging interest rates of EUR 106 million (EUR 142 million at 31 December 2016), the details of which are provided below: