34 Financial Institutions Join Danantara’s PSEL Financing Panel
JAKARTA — A total of 34 domestic and international financial institutions have been listed as prospective lenders for waste-to-energy (PSEL) projects in Indonesia. Indicative financing interest gathered so far exceeds three times the programme’s estimated debt requirement, although it does not yet constitute a binding funding commitment.
Danantara Indonesia, through PT Danantara Investment Management (DIM) and PT Daya Energi Bersih Nusantara (Denera), has completed the formation of a panel of prospective lenders. The panel is intended to map financial institutions’ capacity and interest before PSEL projects enter the formal financing stage.
Through the panel, DIM and Denera will explore various funding structures to suit the needs of each project. Options include loans, non-cash facilities and other forms of financing.
Denera Chief Financial Officer M Ramadhan Harahap said the response from financial institutions showed interest in investment opportunities in the waste-to-energy sector. However, the financing would depend on project viability and each institution’s risk assessment.
“The response from these various financial institutions shows that the PSEL programme has genuine appeal in the financing market. With prospective partners that have different financing experience and capabilities, we can explore the funding structures best suited to each project’s needs. Viability, commercial structure and risk remain the main considerations in preparing the financing,” Ramadhan said in a press release received on Monday (19 October 2026).
The panel’s 34 members come from a range of financial institutions, including multilateral development banks, bilateral development finance institutions, infrastructure finance institutions, climate fund managers and international project finance institutions.
In Indonesia, the panel includes banks belonging to the Association of State-Owned Banks (Himbara), national private banks, commercial banks and Islamic banks. Several international banks operating in Indonesia are also listed as prospective financing partners.
Although indicative financing interest has exceeded the programme’s debt requirement, Danantara stressed that this figure does not represent credit approval. Every funding proposal must still undergo due diligence and feasibility assessments, receive approval from the financial institution’s internal processes, and meet financing conditions.
DIM and Denera appointed PT Indonesia Infrastructure Finance (IIF) as financial adviser and consultant for the formation of the panel. The selection process began in July 2026 with an open announcement and direct invitations to domestic and international financial institutions.
Prospective panel members were assessed on their financial capacity, financing experience, ability to execute funding, flexibility and suitability for PSEL project requirements. The selection results will provide a basis for exploring financing structures at both portfolio and individual-project levels.
The panel is expected to make it easier to explore funding sources for PSEL projects in various regions. The arrangement also creates opportunities for private and international capital to participate in developing waste-processing infrastructure, while taking into account projects’ commercial viability and financial sustainability.