BAKU, Azerbaijan, May 14. TotalEnergies has signed a Sale and Purchase Agreement with Norwegian investment firm HitecVision for the sale of a 50% stake in Polska Grupa Biogazowa (PGB), Poland’s leading biogas company, Trend reports.
The transaction values PGB at 190 million euros and is subject to regulatory approvals.
PGB operates 20 biogas units across Poland, with a production capacity exceeding 450 GWh of equivalent biomethane. The company, acquired by TotalEnergies in 2023, produces electricity and heat through combined heat and power (CHP) and is currently building two additional plants. It plans to expand into biomethane production and targets 2 TWh of capacity by 2030.
The partnership aligns with TotalEnergies’ strategy of divesting stakes in renewable assets to enhance investment returns, and supports HitecVision’s focus on biogas and biomethane development through its New Energy Program. The two companies plan to scale PGB’s operations through new projects and acquisitions.