German Utilities Potentially Undervalued Companies

ABO Energy GmbH KGaA

Market Cap: €317.2m

Develops renewable energy projects in Germany and internationally.

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.

ABO Energy GmbH KGaA

Market Cap: €317.2m

Develops renewable energy projects in Germany and internationally.

Neoenergia

Market Cap: €33.8b

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

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.

Westbridge Renewable Energy

Market Cap: €68.0m

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

China Resources Power Holdings

Market Cap: €94.5b

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

Guangdong Investment

Market Cap: €48.4b

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.

Tohoku Electric Power Company

Market Cap: €524.8b

Operates as an energy service in Japan and internationally.

Fluence

Market Cap: €108.8m

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

Engie Brasil Energia

Market Cap: €32.4b

Engages in the generation, commercialization, trading, and transmission of electricity in Brazil.

Beijing Enterprises Holdings

Market Cap: €43.6b

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

AES

Market Cap: €10.3b

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

Guangdong Investment

Market Cap: €48.4b

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: €65.0b

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.

Centrica

Market Cap: €8.2b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

7C Solarparken

Market Cap: €129.1m

Owns and operates PV farms in Germany and Belgium.

7C Solarparken

Market Cap: €129.1m

Owns and operates PV farms in Germany and Belgium.

Centrica

Market Cap: €8.2b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

TAURON Polska Energia

Market Cap: €17.9b

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

Tian Lun Gas Holdings

Market Cap: €3.2b

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.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: €90.1b

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

China Resources Power Holdings

Market Cap: €94.5b

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

China Everbright Greentech

Market Cap: €2.0b

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: €29.2t

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

Concord New Energy Group

Market Cap: €2.9b

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

ENN Energy Holdings

Market Cap: €75.6b

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

China Longyuan Power Group

Market Cap: €122.2b

Generates and sells wind, coal, and photovoltaic (PV) power in the Chinese Mainland, Canada, South Africa, and Ukraine.

Arise

Market Cap: €1.2b

Operates in the renewable energy sector.

Kunlun Energy

Market Cap: €62.9b

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.

Binhai Investment

Market Cap: €1.5b

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

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.

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.

ABO Energy GmbH KGaA

Market Cap: €319.0m

Develops renewable energy projects in Germany and internationally.

ENN Energy Holdings

Market Cap: €75.6b

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

Perusahaan Gas Negara

Market Cap: €41.9t

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