Danantara Establishes Denera, a Waste Management Giant Aimed at Listing on the Stock Exchange
JAKARTA - The Daya Anagata Nusantara Investment Management Agency (Danantara) is targeting PT Daya Energi Bersih Nusantara (Denera) to conduct an initial public offering (IPO) of its shares.
Denera is a newly formed integrated waste management company established by Danantara on 1 April 2026 as a holding company that will oversee all Waste-to-Electricity (PSEL) projects in Indonesia.
Danantara’s Chief Investment Officer, Pandu Patria Sjahrir, stated that the agency has long-term plans to take Denera public on the Indonesia Stock Exchange (BEI).
This plan is based on the substantial investment value poured into waste-to-electricity projects, amounting to US$5 billion or equivalent to Rp85 trillion to Rp90 trillion.
“Later on, our desire is, of course, because this is quite a large investment we’re making; if you look at the total, it could reach US$5 billion, which is about Rp90 trillion or Rp85 trillion,” Pandu said when met at the Indonesia Stock Exchange (BEI) building on Monday (11/5/2026).
Danantara targets all major projects to be completed and start generating revenue by 2028. After that, the waste management company is expected to list on the stock exchange through an initial public offering (IPO).
“Our desire is, after there is cash flow—we expect it to be completed with cash flow in 2028—we want to take it to become a public company here (on the exchange). That’s one of our wishes,” he explained.
As a holding entity, its role is to consolidate all investment, development, and operational activities of PSEL projects across various regions in Indonesia.
In this structure, Denera will serve as the parent company for each Waste-to-Electricity Developer and Manager Business Entity (BUPP). Each BUPP is a joint venture between Denera and selected partner consortia.
Through this scheme, Danantara aims to strengthen project management efficiency, increase participation from domestic and global investors, and accelerate technology transfer in comprehensive waste processing.
The establishment of Denera aligns with the mandate of Presidential Regulation (Perpres) No. 109 of 2025 on urban waste handling through waste management into renewable energy based on environmentally friendly technology, as well as the government’s vision in building cleaner, more resilient, and sustainable cities.
Danantara’s PSEL programme targets the construction of waste-to-electricity processing facilities in several cities in Indonesia.