Bulgarian Utilities Potentially Undervalued Companies

Toplofikatsia-Ruse AD

Market Cap: лв221.1m

Produces and sells electricity and thermal energy in Bulgaria.

Engie

Market Cap: €43.3b

Operates as an energy company, engages in the renewables and decentralized, low-carbon energy networks, and energy services businesses in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Veolia Environnement

Market Cap: €21.2b

Designs and provides water, waste, and energy management solutions.

Ørsted

Market Cap: €49.6b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage and renewable hydrogen facilities, and bioenergy plants.

Enel

Market Cap: €69.7b

Operates as an integrated operator in electricity and gas industries worldwide.