Total (TTE.US) will sell 50% stake in a biogas plant in Poland to increase return on investment in renewable energy.

Zhixin Finance APP learned that TotalEnergies (TTE.US) has agreed to sell 50% of its biogas production business in Poland to the Norwegian investment company HitecVision AS, as part of the oil giant's strategy to increase its investment return in renewable energy. TotalEnergies stated in a declaration on Wednesday that it plans to sell its stake in Polska Grupa Biogazowa (PGB) at an enterprise value of 190 million euros (214 million US dollars), pending approval from the government and regulatory authorities. Earlier this week, media reports indicated that the French company was aiming to sell its renewable natural gas assets in Poland and France.