Danantara aims for PSEL project holding company to IPO in 2028 - ANTARA News
Jakarta - The Investment Management Agency of Future Power of the Archipelago (Danantara Indonesia) is targeting the holding company for PSEL projects, namely PT Daya Energi Bersih Nusantara (PT Denera), to list on the Indonesia Stock Exchange (BEI) by the end of 2028 after all projects begin generating cash flow.
“Later, after there is cash flow, we expect it to be completed by 2028, with cash flow, and we want to take it public (Tbk) here. One of our desires is that,” said Danantara Indonesia’s Chief Investment Officer (CIO) Pandu Sjahrir at the Investor Relations Forum 2026 in Jakarta on Monday.
Pandu stated that the waste-to-energy (WTE) or waste processing into electricity (PSEL) project holding company will oversee 33 projects with a total investment value approaching 5 billion US dollars or around Rp85 trillion to Rp90 trillion.
He revealed that in the near future, Danantara along with the government will also launch the second batch of PSEL projects, coinciding with the signing of power purchase agreements (PPA).
After all PPAs are completed, said Pandu, project construction is targeted to begin in the first week of June 2026.
In the second phase development, according to Pandu, Danantara will also increase the minimum ownership stake to 51 per cent.
He said that project development is being carried out in collaboration with foreign and domestic partners to accelerate the resolution of Indonesia’s waste issues.
Pandu also believes that Denera has the potential to become one of the world’s largest waste-to-energy companies and could serve as a positive catalyst for the domestic capital market if it lists on the Indonesia Stock Exchange.
For information, Denera was officially established on 1 April 2026. Denera will serve as the holding company for each Waste-to-Energy Developer and Manager Business Entity (BUPP) of PSEL, where each BUPP is a joint venture between Denera and selected partner consortia.
The establishment of Denera is in line with the mandate of Presidential Regulation (Perpres) Number 109 of 2025 regarding urban waste management through waste-to-renewable energy processing based on environmentally friendly technology, as well as the Indonesian Government’s vision to build cleaner, more resilient, and sustainable cities.