German Utilities Potentially Undervalued Companies

Hokkaido Electric Power Company

Market Cap: €138.2b

Generates, transmits, and distributes electricity in Japan.

ABO Energy GmbH KGaA

Market Cap: €336.6m

Develops renewable energy projects in Germany and internationally.

Kyushu Electric Power Company

Market Cap: €583.8b

Engages in the power generation, transmission, distribution, and sales in Japan and internationally.

Guangdong Investment

Market Cap: €39.2b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

China Resources Power Holdings

Market Cap: €93.3b

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

AB Ignitis grupe

Market Cap: €1.5b

Engages in the generation and distribution of electricity and heat.

Magnora

Market Cap: €1.3b

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

Superior Plus

Market Cap: €1.5b

Distributes propane, compressed natural gas, and renewable energy and related products and services in the United States and Canada.

China Everbright Greentech

Market Cap: €1.4b

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

ENN Energy Holdings

Market Cap: €65.4b

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

China Power International Development

Market Cap: €35.6b

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

Arise

Market Cap: €1.4b

Operates in the renewable energy sector.

Kunlun Energy

Market Cap: €63.9b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas.

ABO Energy GmbH KGaA

Market Cap: €336.6m

Develops renewable energy projects in Germany and internationally.

Admie Holding

Market Cap: €636.2m

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

Neoenergia

Market Cap: €24.6b

Generates, transmits, distributes, trades in, and commercializes electric energy in Brazil.

Canvest Environmental Protection Group

Market Cap: €11.6b

An investment holding company, engages in the operation and management of waste-to-energy (WTE) plants in the People’s Republic of China.

China Resources Gas Group

Market Cap: €49.2b

An investment holding company, engages in the sale of natural and liquefied gas, and connection of gas pipelines.

TTW

Market Cap: €35.1b

Engages in the production and sale of treated water in Thailand.

China Resources Power Holdings

Market Cap: €93.3b

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

Veolia Environnement

Market Cap: €21.7b

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

ENEA

Market Cap: €7.0b

Generates, transmits, distributes, and trades in electricity in Poland.

China Water Affairs Group

Market Cap: €10.1b

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

Westbridge Renewable Energy

Market Cap: €61.7m

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

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €74.6b

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

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €74.8b

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

Ratch Group

Market Cap: €54.2b

An energy and infrastructure company, engages in the generation and sale of electricity and steam in Thailand, Australia, Singapore, Indonesia, and internationally.

Engie

Market Cap: €43.8b

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.

Guangdong Investment

Market Cap: €39.2b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

Electricity Generating

Market Cap: €49.0b

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.

Engie

Market Cap: €43.8b

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.

AES

Market Cap: €7.3b

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

China Gas Holdings

Market Cap: €37.0b

An investment holding company, operates as a gas operator and service provider in the People’s Republic of China.

ACEA

Market Cap: €3.9b

Operates as a multi-utility company in Italy.

MINT Société anonyme

Market Cap: €23.5m

Provides renewable electricity in France.

Beijing Enterprises Holdings

Market Cap: €36.5b

An investment holding company, engages in the gas, water, environmental, brewery, and other businesses in Mainland China, Germany, and internationally.