A Donald Trump presidency will not deter energy company Innogy from investing in the U.S, Peter Terium, its CEO, said on Wednesday.
"The move from coal to gas was not by policy, but it was just that shale gas was cheaper than coal, and the move towards renewables is because wind onshore, in certain areas… (has) become much more cheaper than any conventional generation can be," Terium said to CNBC at the World Economic Forum in Davos, Switzerland.
Innogy is a subsidiary of energy company RWE and is focused on three main areas: renewables, grid and infrastructure, and retail.
According to the business, it provides energy to roughly 16 million power customers and seven million gas customers across 11 European countries.
Speaking on the possibility of punitive action from President-elect Trump against the renewables sector, Terium added that he did not think any punitive action could "be any more bigger than the market."