Diversification into the Green Energy Sector - Astrindo Nusantara Acquires 20% Stake in OASA
Jakarta - The trend in green energy investments is gaining momentum, and PT Astrindo Nusantara Infrastruktur Tbk. (BIPI) is capitalising on this opportunity by strengthening its diversification into the green energy sector through the acquisition of a 20% stake in entities within the PT Maharaksa Biru Energi Tbk. (OASA) group, which operates in waste-to-energy processing (PLTSa). The company announced this information in a press release in Jakarta yesterday.
Astrindo Nusantara Infrastruktur Director, Michael Wong, stated that this step is part of the company’s long-term strategy to expand its sustainable energy portfolio. “This is a strategic move by Astrindo to broaden participation in Indonesia’s clean energy ecosystem. We view waste-to-energy not only as a business opportunity but also as a real solution to support the national energy transition,” he said.
The company signed a share purchase agreement to acquire 20% stakes in PT Indoplas Energi Hijau (IEH) and PT Maharaksa Energi Hijau (MEH), which are part of the PT Maharaksa Biru Energi Tbk. (OASA) business group. This initiative forms part of Astrindo’s strategy to expand exposure to the waste-to-energy business while reinforcing its commitment to environmental, social, and governance (ESG) principles.
Through this investment, Astrindo will participate in developing waste-to-energy (WtE) projects, which are seen to have significant potential amid rising needs for waste management solutions and alternative energy. Astrindo’s entry into IEH also opens opportunities for involvement in the Waste-to-Power Plant (PLTSa) project in South Tangerang.
The project has an investment value of around Rp2.6 trillion, with a processing capacity of 1,100 tons of waste per day and potential electricity production of about 25 megawatts (MW). The development of this PLTSa is expected to provide a solution to urban waste issues while producing sustainable clean energy.
Looking ahead, Astrindo plans to continue developing investments in the renewable energy sector, including opportunities in gas-based infrastructure and other clean energy sources. Michael Wong added that this acquisition also affirms Astrindo’s transformation direction from previously focusing on conventional energy infrastructure to becoming a more active player in the green energy ecosystem. This aligns with increasing attention to sustainability and energy transition in Indonesia.
Previously, the company stated it would begin implementing a waste-to-energy (WtE) project in 2026 valued at US$300 million to US$350 million. Astrindo Nusantara Infrastruktur President Director, Raymond Anthony Gerungan, once said that the company has been involved in WtE projects for more than three years. However, he noted, due to numerous changes in central and local government, the project had to undergo adjustments. “President Prabowo has already mandated Indonesian companies to enter the waste-to-energy or waste-to-energy field. Actually, we have been running such projects for more than three years,” said Raymond.
He continued that WtE projects are not new to BIPI. However, BIPI continues to make annual adjustments to align with the requirements of local and central government. “This year, there happens to be one project that seems likely to proceed early next year. To proceed early next year, financing and structure must be in place today,” said Raymond.