Global Utilities Potentially Undervalued Companies

GD Power DevelopmentLtd

Market Cap: CN¥83.3b

Operates as a power generation company in China.

Ratch Group

Market Cap: ฿53.7b

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

GD Power DevelopmentLtd

Market Cap: CN¥83.3b

Operates as a power generation company in 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.

Mega First Corporation Berhad

Market Cap: RM 3.6b

Engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, Papua New Guinea, India, Bangladesh, Australia, New Zealand, and internationally.

National Central Cooling Company PJSC

Market Cap: د.إ7.4b

Supplies chilled water in the United Arab Emirates and internationally.

Beijing Enterprises Holdings

Market Cap: HK$41.0b

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

Hokkaido Electric Power Company

Market Cap: €142.3b

Generates, transmits, and distributes electricity in Japan.

Inner Mongolia MengDian HuaNeng Thermal Power

Market Cap: CN¥27.5b

Engages in thermal power generation business.

China Everbright Water

Market Cap: S$658.0m

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

Origin Energy

Market Cap: AU$19.6b

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.

Beijing Enterprises Holdings

Market Cap: HK$41.0b

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

Fluence

Market Cap: AU$38.9m

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

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.

Beijing Enterprises Holdings

Market Cap: HK$41.0b

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

Gunkul Engineering

Market Cap: ฿13.0b

Generates and sells renewable energy in Thailand, Japan, and Vietnam.

China Resources Power Holdings

Market Cap: HK$103.0b

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

Gujarat Industries Power

Market Cap: ₹30.7b

Engages in the generation, transmission, and distribution of electricity to power purchasing companies in India.

Westbridge Renewable Energy

Market Cap: €75.9m

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

Engie Brasil Energia

Market Cap: US$33.0b

Generates, sells, and trades in electrical energy in Brazil.

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: €94.0b

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

Engie

Market Cap: €48.2b

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: US$8.1b

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

Engie Energia Chile

Market Cap: CL$1.4t

Engages in the generation, transmission, and supply of electricity primarily in Chile.

China Water Affairs Group

Market Cap: €10.3b

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

China Resources Power Holdings

Market Cap: €103.0b

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

Alerion Clean Power

Market Cap: €881.2m

Engages in electricity production from wind and solar power in Italy, Spain, Bulgaria, and Romania.

Cox ABG Group

Market Cap: €743.0m

Operates as an integrated utility of water and energy company.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$78.7b

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

Beijing Jingneng Power

Market Cap: CN¥30.7b

Produces and sells electric power and heat products in China.

Jiaze Renewables

Market Cap: CN¥8.8b

Engages in the development, construction, sale, operation, and maintenance of new energy projects.

Zhongshan Public Utilities GroupLtd

Market Cap: CN¥12.8b

Engages in the environmental water, solid waste, new energy, engineering construction, and auxiliary businesses in China and internationally.

Korea Gas

Market Cap: ₩3.4t

Engages in the exploration, development, production, import, and wholesale of liquefied natural gas (LNG), compressed natural gas, and natural gas in South Korea and internationally.

ENN Natural GasLtd

Market Cap: CN¥58.6b

Engages in natural gas distribution, trading, storage, transportation, production, and engineering in China.

Gujarat Industries Power

Market Cap: ₹30.7b

Engages in the generation, transmission, and distribution of electricity to power purchasing companies in India.

ABO Energy GmbH KGaA

Market Cap: €323.7m

Develops renewable energy projects in Germany and internationally.