TotalEnergies sells 50% of PGB to HitecVision to develop biogas in Poland

TotalEnergies sold 50% of Polska Grupa Biogazowa to HitecVision for €190mn to accelerate biogas development in Poland and reach 2 TWh of biomethane by 2030.

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On May 14, 2025, TotalEnergies announced the sale of 50% of Polska Grupa Biogazowa (PGB) to HitecVision for an enterprise value of €190mn ($206mn). This transaction marks a strategic shift for the French group in the renewable energy market in Eastern Europe. PGB, the leading biogas player in Poland, currently operates 20 production units with an installed capacity exceeding 450 GWh of biomethane equivalent.

Founded in 2007 and fully acquired by TotalEnergies in 2023, PGB is engaged in cogeneration projects that produce both electricity and heat. Two new facilities are currently under construction, and the company is targeting a production capacity of 2 TWh of biomethane by 2030.

Strategic objectives of both partners

The agreement with HitecVision, a Norwegian investment firm specialised in energy, follows the “farm-down” model adopted by TotalEnergies for its renewable assets. This approach aims to free up capital while retaining a stake in long-term projects deemed profitable and foundational. Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, stated that this partnership will support PGB’s growth in a rapidly expanding Polish market.

For HitecVision, the transaction is part of its New Energy Program, which focuses on low-carbon energy investments. According to Erlend Ellingsen, CEO and Managing Partner at HitecVision, Poland represents a unique opportunity for profitable growth through a mix of greenfield projects and mergers and acquisitions.

A developing market under regulatory oversight

Poland, which still lacks significant biomethane infrastructure, is currently engaged in regulatory efforts to diversify its energy sources, particularly within the framework of European Union climate goals. The biogas sector is being driven by the broader context of energy transition and supply security.

The transaction remains subject to the necessary governmental and regulatory approvals. In the meantime, the two partners plan to leverage their complementary expertise to strengthen PGB’s industrial footprint and capture a growing share of the Polish biogas market.

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