Power Assets is screened out under 1 exclusion reason spanning 1 issue category.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Power Assets Holdings Limited is a Hong Kong-based infrastructure investment company with energy holdings across Asia, Australia, and the United Kingdom. Its most significant UK exposure has been a 40% stake in UK Power Networks (UKPN), one of Britain's largest electricity distribution networks.
UKPN has been subject to Ofgem regulatory penalties for environmental compliance and network reliability failures, including incidents where infrastructure failures led to localized pollution events.
In February 2026, Engie announced the acquisition of UKPN for $14.2 billion, valuing the business at approximately 10x estimated 2027 EBITDA. This transaction eliminates Power Assets' direct UK energy distribution exposure and transfers the associated operational environmental risk to Engie. The divestiture materially changes the company's risk profile, though its remaining fossil fuel-linked energy investments across other geographies continue to carry environmental liability.
Research Sources
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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