Latest news with #PolskaGrupaBiogazowa
Business Recorder
14-05-2025
- Business
- Business Recorder
TotalEnergies sells 50% stake in Polish biogas company to HitecVision
PARIS: TotalEnergies said on Wednesday it had signed an agreement to sell 50% of Polish biogas producer Polska Grupa Biogazowa to Norwegian investment company HitecVision. The French energy company said the sale agreement represented an enterprise value of 190 million euros ($213.6 million). The deal will help Polska Grupa Biogazowa to continue growth in Poland where biogas is developing rapidly, Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies said in a statement. Erlend Ellingsen, CEO and Managing Partner of HitecVision, said the companies had complementary skills that they would put to use for 'scaling' PGB significantly over the next few years through greenfield projects as well as M&A. European Union rules allow countries and companies to count biogas as green energy alongside wind and solar and mandate its use via quotas, notably in the transport sector. Last year, Total sold a 10% stake in its BioNorrois biogas unit to sugar maker Crystal Union. The French company aims to produce 100 Terawatt-hours (TWh) worth of biogas by 2030, up from 1.2 TWh in 2024. Biogas is chemically similar to natural gas drilled out of the ground but is made from animal waste and crop residue. The HitecVision deal is subject to governmental and other regulatory approvals.
Bloomberg
14-05-2025
- Business
- Bloomberg
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.
Reuters
14-05-2025
- Business
- Reuters
TotalEnergies agrees to sell 50% of Polish biogas firm PGB to Norway's HitecVision
GDANSK, May 14 (Reuters) - TotalEnergies ( opens new tab has signed an agreement with Norwegian investment company HitecVision to sell 50% of Polish biogas producer Polska Grupa Biogazowa, the French oil major said on Wednesday. The deal to sell half of PGB, which TotalEnergies acquired in 2023, has been given an enterprise value of 190 million euros ($213.6 million), the company said in a statement. The transaction is subject to governmental and other regulatory approvals. ($1 = 0.8896 euros)
