* Small selective acquisitions possible - CEO
* Innogy's parent RWE is sufficiently funded - CEO
* Trump's election doesn't change renewable business
(Adds additional comments on liquidity, U.S.)
FRANKFURT, Nov 30 Innogy, Germany's
largest energy group, plans to spend the 2 billion euros ($2.1
billion) it raised last month in a stock listing on growth
projects rather than big acquisitions.
"The 2 billion (euros) have been budgeted for the next two
to three years," Innogy Chief Executive Peter Terium said at the
ICFW journalist club on Tuesday.
"And we do not want to stick money under the mattress for
acquisitions because we don't want to present surprises to our
shareholders," he added.
Small bolt-on acquisitions were still possible, Terium said,
pointing to the recent purchase of energy storage and
photovoltaics group Belectric, which Innogy bought for less than
100 million euros.
German utility RWE listed a minority holding in Innogy,
which comprises its networks, retail and renewables operations,
raising 4.6 billion euros in Germany's largest IPO since 2000.
Of the proceeds, 2.6 billion euros went to cash-strapped
RWE, which retains a 76.8 percent stake in Innogy.
"This means that it (RWE) has sufficient liquidity to cope
with the next few difficult years in conventional generation,"
said Terium, who served as RWE's CEO until mid-October.
The breakup was a response to years of falling wholesale
power prices, which badly hurt RWE's profits and forced it to
cut jobs, dividends and investments, which in turn prevented it
from strongly expanding growth businesses such as renewables.
"I don't want to be a prophet of doom but if all things had
gone against us, RWE would have faced liquidity troubles,"
Terium said he saw no risk to the expansion of renewables
under U.S. President-elect Donald Trump, whose victory this
month has raised concerns over the future of wind and solar in
the world's largest economy.
"A Trump in the White House does not make a difference,
because the energy turnaround in the United States takes place
in California, it takes place in Texas, where wind turbines are
being built ... It's irreversible."
Innogy, which is closely looking at the U.S. onshore market,
is also banking on an initiative by carmakers to invest in
thousands of fast-charging sites for electric cars across
Europe, Terium said, hoping it will be chosen as a supplier.
Terium said he was confident Innogy will be included in
Germany's midcap index following next month's review by
stock market operator Deutsche Boerse, adding a membership in
the large-cap DAX required RWE's stake to fall to 55-60 percent.
($1 = 0.9394 euros)
(Reporting by Christoph Steitz; Editing by Victoria Bryan and