Listed Company Joins Danantara Waste-to-Energy Project as Shares Surge

JAKARTA – PT Solusi Environment Asia Tbk (SOFA), representing its subsidiary PT Ananta Energi Asia (AEA), announced approval to add AEA as a local partner in the consortium for the waste-to-energy project (PSEL) with Zhejiang Weiming Environment Protection Co Ltd.

AEA has joined the consortium for two national project locations designated by Badan Pengelola Investasi Daya Anagata Nusantara (Danantara).

SOFA Managing Director Denny Rizal explained the announcement follows Danantara’s formal designation of Zhejiang Weiming as a cooperation partner for the first phase of two PSEL facilities in Denpasar and Bogor.

He noted Zhejiang Weiming is one of the world’s largest and most experienced waste-to-energy management companies, with a portfolio of dozens of operational plants in China. In 2025, its total electricity production from waste processing reached 4.62 billion kWh, equivalent to the annual consumption of a medium-sized Indonesian province.

The company has been designated by Danantara as a cooperation partner for two of the four first-phase PSEL sites, making it one of the largest winners in the national first-phase PSEL tender.

AEA, Denny said, was established by SOFA and PT Asia Investment Capital (AIC), the controlling shareholder of SOFA, on 5 February 2026, with respective shareholdings of 99% and 1%.

AEA will serve as the official local partner in the consortium with Zhejiang Weiming, responsible for permitting coordination, local government relations, and technology transfer to domestic industry capacity, per Danantara’s requirements.

The addition of AEA as a local partner in Danantara’s PSEL consortium with Zhejiang Weiming represents a material achievement for the company, reflecting the realisation of its long-term vision to build a leading green infrastructure investment platform in Indonesia.

Denny added that AEA’s inclusion in the consortium enables predictable long-term cash flow through a 30-year power purchase agreement (PPA) with PT Perusahaan Listrik Negara (PLN) at a fixed tariff of $0.20 per kWh.

“This also lays the foundation for participation in the second wave and beyond of Danantara’s PSEL programme, which includes 25 cities in the national pipeline,” he said.

SOFA shares rose 9.47% to Rp 370 on Monday, 25 May 2026, with significant buying interest. Brokerages Semesta Indovest and Mandiri Sekuritas recorded net buys of Rp 590.9 million and Rp 240.3 million respectively.