Danantara Plans to List New SOE WtE Firm Denera on the IDX
The Investment Management Agency (BPI) Daya Anagata Nusantara (Danantara) plans to bring a state-owned enterprise (SOE) in the waste-to-energy (WtE) sector to trade on the Indonesia Stock Exchange (BEI). The company in question is PT Daya Energi Bersih Nusantara (Denera).
Chief Investment Officer (CIO) of BPI Danantara, Pandu Sjahrir, stated that the opportunity to list the company on the exchange is quite open, in line with the high level of investment in Indonesia’s WtE sector. He even noted that investments in the WtE sector have reached US$5 billion or Rp87.07 trillion (exchange rate Rp17,415).
“Yes, our intention is that after there is cash flow—we expect completion in 2028, with cash flow—we want to make it a public company here, Denera,” Pandu revealed at the Indonesia Stock Exchange (BEI) building in South Jakarta on Monday (11/5/2026).
In a separate opportunity, Pandu said that Danantara has 33 WtE projects worth US$5 billion. These energy-from-waste projects will be carried out together with foreign and local companies.
These WtE projects will be managed by Denera. Pandu stated that this red-plate company will become the world’s largest WtE manager.
“I think this will be one of the largest waste-to-energy companies in the world. I think this could be a good catalyst if we can enter later, if permitted, yes, on the Indonesia Stock Exchange. We will apply, Insha’Allah, because by 2028 there should already be cash flow,” Pandu stated at the Investor Relations Forum event.
For information, Denera was established on 1 April 2026. The company is planned to tackle WtE projects or Waste Processing into Electricity Facilities (PSEL). Denera will act as the manager and hold a 30% stake in the PSEL facilities, while project partners will hold a 70% stake.
This new SOE will be a company that improves waste management in Indonesia, starting from the collection stage to the implementation of processing schemes such as Reduce Waste Processing Depot (DPSR), Reduce, Reuse, Recycle Waste Processing Depot (DPS3R), and Integrated Waste Processing Depot (DPST).