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: €61.3b

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.

China Resources Power Holdings

Market Cap: €101.3b

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

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €89.1b

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

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.

Westbridge Renewable Energy

Market Cap: €69.8m

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

Fluence

Market Cap: €66.7m

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

Electricity Generating

Market Cap: €57.6b

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.

AES

Market Cap: €9.4b

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

Tohoku Electric Power Company

Market Cap: €525.4b

Operates as an energy service conglomerate in Japan and internationally.

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €89.1b

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

Beijing Enterprises Holdings

Market Cap: €40.8b

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

Magnora

Market Cap: €1.5b

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

7C Solarparken

Market Cap: €151.0m

Owns and operates PV farms in Germany and Belgium.

China Resources Power Holdings

Market Cap: €101.3b

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

7C Solarparken

Market Cap: €151.0m

Owns and operates PV farms in Germany and Belgium.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: €76.9b

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

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.

Korea Electric Power

Market Cap: €23.3t

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

Huaneng Power International

Market Cap: €107.1b

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

ENN Energy Holdings

Market Cap: €71.0b

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

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.

China Power International Development

Market Cap: €38.1b

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

Arise

Market Cap: €1.4b

Operates in the renewable energy sector.

China Longyuan Power Group

Market Cap: €113.0b

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

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: €57.6b

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.

Kunlun Energy

Market Cap: €66.6b

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.

CGN Power

Market Cap: €181.3b

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

Cikarang Listrindo

Market Cap: €10.9t

Operates power generating facilities in Indonesia.

ENN Energy Holdings

Market Cap: €71.0b

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

Companhia Energética de Minas Gerais - CEMIG

Market Cap: €34.1b

Through its subsidiaries, engages in the generation, transmission, distribution, and sale of energy in Brazil.

China Longyuan Power Group

Market Cap: €113.0b

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

Admie Holding

Market Cap: €769.5m

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

Towngas Smart Energy

Market Cap: €14.1b

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