06:10 AM EDT, 05/14/2025 (MT Newswires) -- TotalEnergies SE ( TTE ) said early Wednesday it signed a deal under which a Norwegian investment company, HitecVision, has agreed to purchase 50% of Polska Grupa Biogazowa for an enterprise value of 190 million euros ($211.7 million).

PGB has 20 units operating and a production capacity of over 450 gigawatt-hours of equivalent biomethane, TotalEnergies 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 decarbonization of Poland and the EU," said Erlend Ellingsen, CEO and Managing Partner of HitecVision.

PGB has two plants under construction in Poland and aims to diversify into biomethane production. By 2030, PGB aims to reach 2 terawatt-hours of equivalent biomethane production capacity.

The deal is subject to governmental and regulatory approvals.

TotalEnergies acquired PGB in 2023.