TotalEnergies has entered into a Sale and Purchase Agreement (SPA) with Norwegian investment firm HitecVision for the sale of a 50% stake in Polska Grupa Biogazowa (PGB). The deal, which values the company at €190 million, marks a strategic partnership aimed at accelerating the growth of biogas production in Poland.
PGB, Poland’s leading biogas company, operates 20 facilities with a total production capacity exceeding 450 GWh of equivalent biomethane. Established in 2007 and acquired by TotalEnergies in 2023, the company specializes in cogeneration (CHP), producing both electricity and heat from biogas. PGB is currently constructing two new plants and is preparing to expand into biomethane production, with an ambitious goal of reaching 2 TWh of capacity by 2030.
Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, commented on the deal: “We are pleased to welcome HitecVision as a partner in developing biogas in Poland. This agreement supports PGB’s continued growth in a rapidly evolving market and aligns with our strategy of partially divesting renewable assets to optimize returns on investment.”
Erlend Ellingsen, CEO and Managing Partner at HitecVision, added: “Biogas and biomethane are central to our New Energy Program, and Poland presents a compelling opportunity for profitable expansion while advancing decarbonization efforts across the country and the EU. TotalEnergies has a strong industrial presence in Poland, and together, our complementary capabilities will allow us to significantly scale up PGB through greenfield developments and acquisitions.”
The partnership reflects both companies’ shared commitment to expanding renewable energy infrastructure and supporting Europe’s energy transition.
