By Christie U Omonigho
TotalEnergies said it has signed a Sale and Purchase Agreement (SPA) with HitecVision, a Norwegian investment company specializing in energy, for the sale of 50% of Polska Grupa Biogazowa (“PGB”) for an enterprise value of €190 million.
With 20 units in operation and a production capacity of over 450 GWh of equivalent biomethane, PGB is the leader in biogas in Poland, says TotalEnergies. Founded in 2007 and acquired by TotalEnergies in 2023, PGB, according to the company’s email statement to Energy Window International (Media) operates biogas production units that generate electricity and heat through cogeneration (CHP). PGB currently has 2 plants under construction in Poland and aims to diversify into biomethane production. PGB’s goal is to reach 2 TWh of equivalent biomethane production capacity by 2030.
“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 maximize the profitability of our investments”, says Stéphane Michel, President of Gas, Renewables and Power at TotalEnergies.
“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 decarbonization 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”, Erlend Ellingsen, CEO and Managing Partner of HitecVision said.
However the completion of the transaction TotalEnergies says is subject to obtaining applicable governmental and regulatory approvals.
As a major player in the biogas sector in France with now more than 800 GWh of biogas production capacity, TotalEnergies says it aims to continue its growth in Europe and the United States through partnership with leading companies, including Vanguard Renewables and Clean Energy in the United States. It added that its presence across the entire value chain – from project development to the commercialization of renewable gas and its by-products (biofertilizers, bioCO2) was added impetus. The Company also aims it said, to achieve a gross capacity of 10 TWh equivalent biomethane per year by 2030 – equivalent to the average annual consumption of 1.6 million inhabitants and a reduction of CO2 emissions by 1.6 million tons.
It said it has been operating in Poland since 1992 and currently engages in the production and sale of renewables and low carbon molecules, fuels, special fluids, additives, and bitumen. And its subsidiary Hutchinson it said operates 7 production sites and owns 32 AS24 service stations in the country. It said that in 2023, it acquired PGB (Polska Grupa Biogazowa), which now holds over 15% of the biogas market in Poland with an installed capacity of 23 MW (including 2 MW solar plants). Adding that since acquiring NovEnergia in April 2019, it has been active in onshore renewable energies in Poland, with 40 MW of wind power in operation, 206 MW of solar power, and 189 MW of wind capacity under development. It said that in April 2025, it acquired VSB, described as a company with 84 MW of installed wind capacity and several projects under development.