Global Utilities Low Leverage High Rewards

Watlington Waterworks

Market Cap: BD$35.4m

Through its subsidiary, Bermuda Waterworks Limited, produces and distributes water in Bermuda.

Zhejiang Zheneng Electric Power

Market Cap: CN¥66.5b

Zhejiang Zheneng Electric Power Co., Ltd.

Indraprastha Gas

Market Cap: ₹216.1b

Distributes and sells natural gas in India.

Xinjiang East Universe GasLtd

Market Cap: CN¥3.6b

Engages in the natural gas sales, natural gas facility equipment installation, and natural gas heating businesses.

TTW

Market Cap: ฿42.3b

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

Copperbelt Energy

Market Cap: K25.9b

Engages in the generation, distribution, transmission, sale, and trade of electricity to mining customers in Zambia and the Democratic Republic of Congo (DRC).

Genie Energy

Market Cap: US$383.0m

Through its subsidiaries, engages in the provision of energy services in the United States and internationally.

Energía Latina

Market Cap: CL$44.6b

Engages in the generation and sale of electricity in Chile.

Wasco Greenergy Berhad

Market Cap: RM 177.5m

Operates biomass and steam energy plants in Bursa Malaysia.

China Resources Gas Group

Market Cap: HK$36.2b

An investment holding company, engages in the sale of liquefied gas and connection of gas pipelines.

CK Infrastructure Holdings

Market Cap: HK$154.5b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

Foran Energy Group

Market Cap: CN¥14.5b

Foran Energy Group Co., Ltd. transports and sells natural gas in China.

Dawood Lawrencepur

Market Cap: PK₨42.3b

Through its subsidiaries, engages in the trading and marketing of renewable energy solutions to commercial and industrial consumers in Pakistan.

Great Taipei Gas

Market Cap: NT$14.5b

Supplies natural gas in Taiwan.

Mon Courtier Energie Groupe

Market Cap: €20.3m

Operates energy brokerage network in France.

Électricite de Strasbourg Société Anonyme

Market Cap: €1.3b

Engages in the operation, maintenance, and development of low- and high-voltage electrical networks in France.

Nam Mu Hydropower JSC

Market Cap: ₫596.4b

Produces and supplies electricity in Vietnam.

Kenya Power and Lighting

Market Cap: KSh41.0b

Engages in the transmission, distribution, and retail of electricity in Kenya.

Zimmite Taiwan

Market Cap: NT$1.8b

Engages in the industrial water treatment activities in Taiwan and China.

Vivant

Market Cap: ₱20.6b

Through its subsidiaries, generates, distributes, and retails electric power in the Philippines.

Luenmei QuantumLtd

Market Cap: CN¥13.1b

Engages in the provision of integrated energy services in China.

SamchullyLtd

Market Cap: ₩410.2b

Engages in the supplying of natural gas in South Korea and the United States.

Vinh Son - Song Hinh Hydropower

Market Cap: ₫10.1t

Provides electricity services in Vietnam.

Song Ba

Market Cap: ₫1.5t

Invests in the construction of hydropower projects in Vietnam.

Mega First Corporation Berhad

Market Cap: RM 2.7b

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

EVN

Market Cap: €5.1b

Provides energy and environmental services in Austria, Bulgaria, North Macedonia, Croatia, Germany, and Albania.

Yü Group

Market Cap: UK£304.2m

Through its subsidiaries, supplies energy and utility solutions primarily in the United Kingdom.

naturenergie holding

Market Cap: CHF 1.0b

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

Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi

Market Cap: ₺30.6b

Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A.S.