German Utilities Potentially Undervalued Companies

AB Ignitis grupe

Market Cap: €1.5b

Engages in the generation and distribution of electricity and heat in Lithuania, Poland, Latvia, Finland, Estonia, and internationally.

Huadian Power International

Market Cap: €62.4b

Engages in the generation and sale of electricity, heat, and coal to power grid companies in the People’s Republic of China.

Rubis

Market Cap: €2.9b

Engages in the operation of bulk liquid storage facilities for commercial and industrial customers in Europe, Africa, and the Caribbean.

Westbridge Renewable Energy

Market Cap: €73.8m

Engages in the acquisition and development of solar photovoltaic (PV) projects in Canada, the United States, the United Kingdom, and Italy.

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €89.5b

Through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil.

China Resources Power Holdings

Market Cap: €102.2b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

China Water Affairs Group

Market Cap: €10.4b

An investment holding company, engages in the water supply, environmental protection, and property businesses in the People’s Republic of China.

AES

Market Cap: €9.0b

Operates as a power generation and utility company in the United States and internationally.

Fluence

Market Cap: €51.0m

Provides smart water and wastewater treatment solutions for the municipal, commercial, and industrial markets worldwide.

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €89.5b

Through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil.

Beijing Enterprises Holdings

Market Cap: €40.9b

Through its subsidiaries, engages in the gas, water, environmental, brewery, and other businesses in Mainland China, Germany, and internationally.

Tohoku Electric Power Company

Market Cap: €529.7b

Operates as an energy service conglomerate in Japan and internationally.

Electricity Generating

Market Cap: €55.8b

Generates and sells electricity to government sector and industrial users primarily in Thailand, Laos, the Philippines, Indonesia, Australia, South Korea, Taiwan, and the United States.

Magnora

Market Cap: €1.5b

Operates as a renewable energy development company in Norway, Sweden, South Africa and the United Kingdom.

Tian Lun Gas Holdings

Market Cap: €3.1b

Engages in the transportation, distribution, and sale of natural gas and compressed natural gas through its gas pipeline connections in the People’ Republic of China.

7C Solarparken

Market Cap: €145.3m

Owns and operates PV farms in Germany and Belgium.

China Resources Power Holdings

Market Cap: €102.2b

An investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: €76.3b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

7C Solarparken

Market Cap: €145.3m

Owns and operates PV farms in Germany and Belgium.

China Everbright Greentech

Market Cap: €1.8b

An investment holding company, engages in the design, construction, operation, and maintenance of integrated biomass and waste-to-energy projects in China.

Korea Electric Power

Market Cap: €23.7t

An integrated electric utility company, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.

ENN Energy Holdings

Market Cap: €70.5b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.

Huaneng Power International

Market Cap: €109.0b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Arise

Market Cap: €1.4b

Operates in the renewable energy sector.

Kunlun Energy

Market Cap: €68.4b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in the Republic of Kazakhstan, the Sultanate of Oman, and the Kingdom of Thailand.

AB Ignitis grupe

Market Cap: €1.5b

Engages in the generation and distribution of electricity and heat in Lithuania, Poland, Latvia, Finland, Estonia, and internationally.

Electricity Generating

Market Cap: €56.1b

Generates and sells electricity to government sector and industrial users primarily in Thailand, Laos, the Philippines, Indonesia, Australia, South Korea, Taiwan, and the United States.

CGN Power

Market Cap: €181.3b

Generates and sells nuclear power in the People’s Republic of China.

Towngas Smart Energy

Market Cap: €14.4b

An investment holding company, sells piped gas, renewable energy, and other types of energy in the People’s Republic of China.

Admie Holding

Market Cap: €774.2m

Operates, controls, maintains, and develops an electricity transmission system for the supply of electricity in Greece.

Cikarang Listrindo

Market Cap: €10.9t

Operates power generating facilities in Indonesia.

Perusahaan Gas Negara

Market Cap: €38.3t

Engages in the transmission and distribution of natural gas in Indonesia.

China Everbright Water

Market Cap: €700.9m

Engages in the water environment management business in Mainland China and Germany.

ENN Energy Holdings

Market Cap: €70.5b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.

E.ON

Market Cap: €42.2b

Operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally.

MVV Energie

Market Cap: €2.0b

Provides electricity, heat, gas, water, and waste treatment and disposal products primarily in Germany.