Best Utilities - Independent Power Producers Stocks for 2026

Merchant and contracted-generation operators earn unregulated cash flows exposed to power-market swings and fuel costs, so project-level leverage is the key Health check.

Independent Power Producers (merchant generators plus contracted-generation operators) earn unregulated cash flows that move with power-market dynamics and fuel costs. Composite scoring uses the Health pillar (project-level leverage, refinancing capacity) and the Valuation pillar (EV/EBITDA against contracted-cash-flow visibility); Quality pillar weights margin durability.

Data as of (updated daily)

Top 20 Utilities - Independent Power Producers stocks by composite score

#TickerNameComposite
1NNCL.BKNava Nakorn Public Company Limited78.5
2000690.SHEGuangdong Baolihua New Energy Stock Co LTD72.7
3600578.SHGBeijing Jingneng Power Co Ltd67.1
4ROJNA.BKRojana Industrial Park Public Company Limited64.5
5ISAE3.SAISA ENERGIA BRASIL64.2
62481.HKWise Living Technology Co Ltd63.5
70836.HKChina Resources Power Holding63.2
8600011.SHGHuaneng Power International Inc62.8
90006.HKPower Assets62.3
10ISAE4.SAISA ENERGIA BRASIL61.3
11600863.SHGInner Mongolia MengDian HuaNeng Thermal Power Corp Ltd61.2
121811.HKCGN Meiya Power Hldg Co Ltd61.1
13600674.SHGSichuan Chuantou Energy Co Ltd59.8
14600023.SHGZhejiang Zheneng Electric Power Co Ltd58.9
15CKP.BKCK Power Public Company Limited58.8
16601991.SHGDatang International Power Generation Co Ltd Class A58.0
17MXG.TOMaxim Power Corp.57.1
18PTC.NSEPTC India Limited56.6
19GREENPOWER.NSEOrient Green Power Company Limited56.5
200902.HKHuaneng Power International56.3

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Methodology: How we score stocks. Data refreshed nightly around 03:30 ET. This page lists the top 20 by composite score; use the screener for the full ranked list.

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