Global Utilities Potentially Undervalued Companies

China Water Affairs Group

Market Cap: HK$10.3b

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

CGN Power

Market Cap: CN¥187.7b

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

Brookfield Infrastructure Partners

Market Cap: CA$15.4b

Engages in the utilities, transport, midstream, and data businesses.

Drax Group

Market Cap: €2.3b

Engages in renewable power generation in the United Kingdom.

Drax Group

Market Cap: UK£2.3b

Engages in renewable power generation in the United Kingdom.

naturenergie holding

Market Cap: CHF 973.2m

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

Neoenergia

Market Cap: €29.7b

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

China Everbright Greentech

Market Cap: €1.6b

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

Centrais Elétricas Brasileiras - Eletrobrás

Market Cap: US$94.0b

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

Northland Power

Market Cap: CA$5.7b

Operates as a power producer in Canada, the Netherlands, Germany, Colombia, Spain, the United States, 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.

AES

Market Cap: R$8.1b

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

Korea Electric Power

Market Cap: €17.6t

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

ENN Energy Holdings

Market Cap: €71.5b

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

Korea Electric Power

Market Cap: ₩17.6t

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

Jiaze Renewables

Market Cap: CN¥8.8b

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

Zhejiang Zheneng Electric Power

Market Cap: CN¥72.1b

Zhejiang Zheneng Electric Power Co., Ltd.

Beijing Capital Eco-Environment Protection Group

Market Cap: CN¥22.5b

Beijing Capital Eco-Environment Protection Group Co., Ltd.

Cikarang Listrindo

Market Cap: Rp10.9t

Operates power generating facilities in Indonesia.

Alerion Clean Power

Market Cap: €881.2m

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

Qatar Electricity & Water Company Q.P.S.C

Market Cap: ر.ق17.4b

Invests in, develops, owns, and operates plants to produce electricity and desalinated water in Qatar and internationally.

Beijing Capital Eco-Environment Protection Group

Market Cap: CN¥22.5b

Beijing Capital Eco-Environment Protection Group Co., Ltd.

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.

Adani Power

Market Cap: ₹2.2t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Beijing Jingneng Power

Market Cap: CN¥30.7b

Produces and sells electric power and heat products in China.

Grandblue Environment

Market Cap: CN¥20.3b

Engages in the extensive, covering solid waste treatment, energy, water supply, and drainage in China.

Zhejiang Zheneng Electric Power

Market Cap: CN¥72.1b

Zhejiang Zheneng Electric Power Co., Ltd.

Adani Power

Market Cap: ₹2.2t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: AR$78.7b

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

Arise

Market Cap: €1.5b

Operates in the renewable energy sector.

Hawaiian Electric Industries

Market Cap: US$1.8b

Engages in the electric utility business in the United States.

Caribbean Utilities Company

Market Cap: US$574.2m

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

Kunlun Energy

Market Cap: US$69.8b

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.

Northland Power

Market Cap: US$5.7b

Operates as a power producer in Canada, the Netherlands, Germany, Colombia, Spain, the United States, and internationally.

Exelon

Market Cap: US$43.7b

A utility services holding company, engages in the energy distribution and transmission businesses.

Companhia Paranaense de Energia - COPEL

Market Cap: US$35.7b

Engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil.