Innogy says no reason to change U.S. business after election

FRANKFURT, Nov 11 (Reuters) - Innogy will stick to plans to expand its renewable business in the United States, adding there was no reason to fear a change in support to the sector after Donald Trump won the presidential election earlier this week.

"Our plans are unchanged. We are being selective in our approach and want to expand the business," Bernhard Guenther told journalists on Friday after the release of nine-month results.

Innogy is planning to enter the U.S. onshore wind market, with a focus on the northeastern part of the country, which it says has a risk profile that is very similar to Europe.

European renewable stocks fell sharply on Wednesday, after Trump won the U.S. presidential election, hit by concerns that his plans to promote coal and other fossil fuels would come at the expense of renewable energy investment. (Reporting by Christoph Steitz; Editing by Maria Sheahan)