Poland: TotalEnergies sells 50% in biogas player PGB to HitecVision

Poland

WARSAW, May 14, 2025 – TotalEnergies has agreed to sell a 50% stake in Polska Grupa Biogazowa to Norway-based HitecVision for an enterprise value of EUR 190 million, the company said on Wednesday.

PGB, which was fully acquired by TotalEnergies in 2023, is Poland’s leading biogas producer, operating 20 units with over 450 GWh of equivalent biomethane production capacity and two additional plants under construction.

The company targets reaching 2 TWh of capacity by 2030 through expansion into biomethane and additional projects.

“We are delighted to welcome HitecVision as a partner for biogas production in Poland. This transaction will enable PGB to continue its growth in a country where biogas is rapidly developing and is in line with the farmdown business model applied to our renewable assets in order to maximise the profitability of our investments,” TotalEnergies president of gas, renewables and power Stéphane Michel said.

“Biogas and biomethane is a core focus for HitecVision’s New Energy Program, and Poland represents a unique market opportunity to pursue profitable growth while contributing to the decarbonisation of Poland and the EU. TotalEnergies has a well-established industrial footprint in Poland, and we as partners have complementary skillsets that we jointly will put to use for scaling PGB significantly over the next few years through greenfield projects as well as M&A,” HitecVision CEO and managing partner Erlend Ellingsen said.

The completion of the deal is subject to regulatory approvals.

HitecVision is a Norwegian private equity firm focused on the energy sector with approximately EUR 9 billion in assets under management. Based in Stavanger and with offices in Oslo, London and Milan, it has founded and invested in over 200 companies across Europe’s energy industry and targets sustainable and profitable growth in the energy transition.