TotalEnergies to Sell 50% Stake in Polish Biogas Unit to HitecVision
TotalEnergies SE agreed to sell a 50% stake in its Polish biogas production business to Norwegian investment firm HitecVision AS as part of the oil major's strategy to boost return on its renewables investments.
The planned stake sale in Polska Grupa Biogazowa at an enterprise value of €190 million ($214 million) is subject to government and regulatory approval, TotalEnergies said in a statement on Wednesday. Bloomberg reported earlier this week that the French firm was working on the sale of interests in its Polish and French renewable gas.
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