Danantara Targets Denera Listing on the Stock Exchange
Chief Investment Officer of BPI Danantara, Pandu Sjahrir, has outlined plans for PT Daya Energi Bersih Nusantara, or Denera, to conduct an initial public offering (IPO) on the capital market. “We will apply, Insha’Allah, because by 2028 there should already be cash flow starting,” Pandu said at the Indonesia Stock Exchange on Monday, 11 May 2026.
Pandu made the statement after serving as the keynote speaker at the Investor Relations Forum. During the event, he discussed the waste-to-energy project. Denera, a subsidiary of Danantara, will manage the Electricity from Waste Processing (PSEL) project.
He stated that the government aims to complete the construction of 33 waste-to-energy facilities by 2028. Pandu noted that the project is valued at around US$5 billion, equivalent to up to Rp86.5 trillion, involving domestic and foreign investors.
Pandu announced that the tender for the second phase of the PSEL project will be opened. For the second phase, Denera will hold a 51% ownership structure in the PSEL projects. “I think this will become one of the largest waste-to-energy companies in the world,” he said.
On the same day, Denera signed a memorandum of understanding (MoU) with local governments to accelerate the construction of environmentally friendly waste processing facilities into electricity in six locations. “A MoU has just been signed between Danantara and local governments to speed up the PSEL development in six locations, namely Lampung, Serang, Medan, Semarang, Bogor-Depok, and Bekasi Regency,” said Coordinating Minister for Food Zulkifli Hasan at Graha Mandiri, Jakarta, on Monday, citing Antara.
He said the signing demonstrates a joint commitment between the central government, local governments, and Danantara to expedite the resolution of urban waste issues.
According to him, the PSEL development is directed at areas with emergency waste conditions, particularly regions with waste accumulation exceeding 1,000 tonnes per day.
Zulhas—as he is known—explained that the government targets PSEL construction in 25 locations covering 62 regencies/cities with emergency waste conditions. “Almost 25 locations with 62 regencies/cities above 1,000 tonnes are targeted. Those below 1,000 will be addressed alternately, but the emergency ones first,” he said.
The PAN politician stated that waste management is urgently needed because waste accumulation has caused soil, water, and air pollution, as well as threatening public health.
Zulhas said the government targets the completion of emergency PSEL projects in stages over the next three years. He mentioned that half of the projects are targeted to be completed in 2027, while the remainder is targeted to be finished by May 2028. “In the next three years, half will be completed in 2027, the other half in May 2028,” he said.