State investment management agency Danantara is set to finalize the selection of winners for the first wave of its Waste-to-Energy (WtE) project tender, covering four cities: Bali, Bekasi, Bogor, and Yogyakarta.

Investment Director Fadli Rahman said a 60-member selection committee is currently ensuring that the chosen bidders meet all established criteria. The winners are scheduled to be announced in the second week of March, slightly delayed from the initial timeline due to technical adjustments.

“The announcement will be made by Mr. Rosan (Danantara CEO) in March,” Fadli said during a limited discussion as quoted on Katadata.co.id on Thursday, February 26, 2026.

According to Fadli, the selection process for Bekasi and Bali has reached its final stage, while Bogor and Yogyakarta are still being finalized.

Key tender requirements

Fadli outlined several requirements for winning bidders, including:

● Administrative compliance;

● Strong operational capabilities;

● Solid financial capacity;

● Sound risk management;

● High-quality technical design;

● Robust environmental management.

Danantara also requires bidders to involve local partners. However, local partners are not required to have prior experience in waste management.

“Winners, in accordance with the Presidential Regulation, must have strong operational and financial capabilities, as well as good risk management,” Fadli said.

Local partners are expected to contribute in areas such as licensing, community outreach, and understanding local cultural contexts. Companies from other sectors, including coal, may qualify as partners due to their experience in thermal installations.

“It does not have to be a company engaged specifically in WtE − the technical principles are similar,” he added.

Market speculation on potential participants、

Several publicly listed companies have been mentioned in market speculation as potential local partners despite lacking waste management experience, including:

● PT Daaz Bara Lestari (DAAZ);

● PT Astrindo Nusantara Infrastruktur (BIPI).

Meanwhile, companies such as PT Maharaksa Biru Energi (OASA) and PT Multi Hanna Kreasindo (MHKI) are known to have direct waste management businesses and are also reportedly involved in the tender process.

Fadli declined to comment on specific company names, saying the official announcement would be made publicly in due time.

Participation and next phases

Out of 24 companies that initially joined the tender process, only nine submitted proposals in the first wave. One of the nine failed to qualify because it did not include a local partner.

The second wave of the WtE tender, covering nine additional cities, is scheduled to begin after Eid. Winners for the second phase are expected to be announced in mid-2026.

Unlike the first wave, the second round will not be limited to the initial 24 participants. Danantara plans to reopen registration, allowing new companies to join and broadening the pool of experience and expertise for future WtE projects.