Danantara Investment Management Awards Conditional Letters of Award to Eight Selected Partners for Batch II PSEL Projects
Share to
Jakarta, 21 July 2026 — PT Danantara Investment Management (DIM) officially awarded Conditional Letters of Award (CLoAs) to eight Selected Partners for Batch II of Indonesia's Waste-to-Energy (WtE) or Pengolahan Sampah Menjadi Energi Listrik (PSEL) on 20 July 2026. The award marks a new milestone in the development of the Batch II PSEL program, covering eight project locations across 20 regencies and municipalities throughout Indonesia.
The eight Selected Partners receiving CLoAs at today's ceremony are:
For the Greater Medan project area, today's CLoA was awarded to a Selected Partner appointed through the Standby Partner mechanism, in accordance with the procedures and selection process established from the outset. This appointment was made as previously announced in Press Release PR.33/DI-BP/VII/2026.
The appointment of a Standby Partner as the Selected Partner demonstrates the program's strong commitment to consistent implementation of good governance throughout the Batch II PSEL selection process. Beginning with the preparation of the Verified Selected Providers (Daftar Penyedia Terseleksi/DPT), evaluations were conducted objectively by the DIM team together with independent advisers covering technical, legal, and commercial disciplines. The assessment encompassed waste-to-energy credentials, financial capability, implementation and commercial readiness, strategic considerations, and risk management.
Every requirement set out in the CLoA has been applied consistently and without exception. Where a requirement could not be fulfilled, the Standby Partner mechanism — designed from the beginning of the process — ensured that the project could continue without disruption. This reinforces that the governance framework established by DIM and Denera operates with discipline while providing certainty to all stakeholders that the Batch II PSEL partner selection process is conducted transparently and accountably at every stage.
The selection process for the Batch II PSEL Selected Partners was completed in less than seven weeks. A total of 85 verified DPT participants from seven countries — Indonesia, China, Japan, France, India, South Korea, and Singapore — were eligible, with 68 applications submitted for the eight project locations. Four of the eight Selected Partners are consortia led by Indonesian companies, making Indonesia the country with the largest number of consortium leaders in this selection batch. All stages of the evaluation were carried out by the DIM team with the support of both local and international independent advisers.
"The partner selection process conducted by DIM and Denera has been implemented rigorously in accordance with the established procedures. We expect all Selected Partners to meet the agreed project milestones and uphold the highest standards of good governance throughout implementation," said Pandu Sjahrir, Chief Investment Officer of Danantara Indonesia.
With today's award of the CLoAs, all Selected Partners will proceed to the next stage toward the issuance of the Final Letter of Award (FLoA). This includes the preparation of a Feasibility Study — targeted for completion by mid-November 2026 — followed by project preparation, permitting, land handover, and groundbreaking, which is targeted to take place between December 2026 and January 2027. Should any Selected Partner fail to satisfy the required conditions, the appointment will be transferred to the Standby Partner for the respective project location or the opportunity will be re-tendered.
About the Batch II PSEL Program
The Batch II PSEL partner selection forms part of Indonesia's national PSEL development program, which is being implemented in stages. The first batch began with the groundbreaking of the Bali Waste-to-Energy Project on 8 July 2026. Announcements regarding the groundbreaking of the Bekasi City and Greater Bogor PSEL projects will follow soon.
All projects entering the implementation batch will subsequently be developed and operated by PT Daya Energi Bersih Nusantara (Denera), DIM's waste-to-energy and waste management development platform, together with the appointed project development partners. The program is expected not only to accelerate solutions to Indonesia's waste management challenges, but also to generate economic and environmental benefits through increased investment, the creation of green jobs, reduced greenhouse gas emissions, and the strengthening of the national waste management industry ecosystem.
--END--
About PT Daya Energi Bersih Nusantara (Denera)
PT Daya Energi Bersih Nusantara (Denera) is a company focused on developing Waste-to-Energy (WtE) infrastructure and was established under PT Danantara Investment Management (DIM) to implement the duties tasked by Presidential Regulation No. 109 of 2025. Denera serves as the entity responsible for coordinating and accelerating the development of Waste-to-Energy projects across Indonesia, by integrating investment governance, technology partners, and project developers within an integrated ecosystem.
About Danantara Indonesia
Danantara Indonesia, officially known as Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), is a strategic investment management institution established under Law No. 1 of 2025. As an independent entity under the President, Danantara Indonesia's mandate is to manage and optimize government investments and assets from State-Owned Enterprises (SOEs) in order to support the achievement of the Asta Cita vision, strategic national plans, as well as government programs to accelerate industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, while increasing Indonesia's competitiveness in the global market.
More on Danantara Indonesia: https://www.danantaraindonesia.co.id
For more information, please contact:
Communications Team
Danantara Indonesia
media@danantaraindonesia.com