German Utilities Potentially Undervalued Companies

Westbridge Renewable Energy

Market Cap: €51.8m

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

China Water Affairs Group

Market Cap: €8.9b

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

AES

Market Cap: €10.1b

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

ABO Energy GmbH KGaA

Market Cap: €63.3m

Develops renewable energy projects in Germany and internationally.

Kyushu Electric Power Company

Market Cap: €843.7b

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

7C Solarparken

Market Cap: €131.2m

Engages in the sale of electricity in Germany and Belgium.

AB Ignitis grupe

Market Cap: €1.6b

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

Tian Lun Gas Holdings

Market Cap: €2.9b

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.

TAURON Polska Energia

Market Cap: €17.5b

Through its subsidiaries, generates, distributes, and supplies electricity and heat in Poland and the Czech Republic.

7C Solarparken

Market Cap: €131.2m

Engages in the sale of electricity in Germany and Belgium.

Korea Electric Power

Market Cap: €42.4t

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

PGE Polska Grupa Energetyczna

Market Cap: €20.9b

Engages in the production and distribution of electricity and heat in Poland.

China Everbright Greentech

Market Cap: €1.9b

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

Concord New Energy Group

Market Cap: €2.7b

An investment holding company, engages in the generation of power in the People’s Republic of China and internationally.

Binhai Investment

Market Cap: €1.6b

An investment holding company, operates in gas business in the People’s Republic of China.

CGN Power

Market Cap: €181.3b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

Cikarang Listrindo

Market Cap: €11.3t

Operates power generating facilities in Indonesia.

Perusahaan Gas Negara

Market Cap: €52.4t

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

ABO Energy GmbH KGaA

Market Cap: €63.3m

Develops renewable energy projects in Germany and internationally.

MVV Energie

Market Cap: €2.0b

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

Acciona

Market Cap: €9.9b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Origin Energy

Market Cap: €20.2b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

naturenergie holding

Market Cap: €1.1b

Through its subsidiaries, engages in the production, distribution, and sale of electricity under the Naturenergie brand in Switzerland and internationally.

China Resources Power Holdings

Market Cap: €94.1b

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

TTW

Market Cap: €36.3b

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

Neoenergia

Market Cap: €39.0b

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

Mainova

Market Cap: €2.5b

Operates as an energy service provider in Germany.

MVV Energie

Market Cap: €2.0b

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

Rivco Australia

Market Cap: €250.1m

Provides water supply solutions to Australian irrigators.

Guangdong Investment

Market Cap: €46.5b

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.

UGI

Market Cap: €8.2b

Engages in the distribution, storage, transportation, and marketing of energy products and related services in the United States and internationally.

Caribbean Utilities Company

Market Cap: €558.9m

Engages in the generation, transmission, and distribution of electricity in Grand Cayman.

Fluence

Market Cap: €97.1m

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

Beijing Enterprises Holdings

Market Cap: €43.4b

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

Electricity Generating

Market Cap: €62.4b

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.

Tianjin Development Holdings

Market Cap: €2.7b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.