TotalEnergies Sells 50% Stake in Polish Biogas Firm in $213M Deal
TotalEnergies (NYSE:TTE) said Wednesday it agreed to sell 50% of its fully-owned Polish biogas producer Polska Grupa Biogazowa to Norwegian investment company HitecVision in a deal valued at €190M (~$213M), including debt.
PGB is the leader in biogas in Poland, with 20 units in operation and a production capacity of more than 450 GWh of equivalent biomethane; it has two plants under construction in Poland and aims to diversify into biomethane production, with a goal of reaching 2 TWh of equivalent biomethane production capacity by 2030.