FRANKFURT, Nov 21 (Reuters) - The growth of solar and wind power in the United States could slow under President-elect Donald Trump, the chief executive of German utility E.ON told German newspaper Handelsblatt, but added he expected any change to be slow.
“It is possible that future growth may slow and that the focus will shift again towards coal and oil. But we have seen these shifts in Europe, too. Just think about nuclear energy,” Johannes Teyssen was quoted as saying.
E.ON has assets of about 4 billion euros ($4.25 billion) in the United States, the world’s second-biggest market for wind turbines after China, mostly in the form of onshore wind parks.
Global renewable stocks fell following Trump’s election victory, fuelling concerns about the long-term prospects of the industry in the United States.
Teyssen said most jobs in the renewables industry were located in states dominated by the Republicans, adding any change in legislation would happen very slowly.
“I also rule out a change to existing assets,” he said.
$1 = 0.9406 euros Reporting by Christoph Steitz; Editing by Tina Bellon and Dale Hudson