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///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops///LATE STAGE • Sociolla • US$ 250M • Commerce///POLICY • Gold Export Duties: Progressive Reference-Price Ladder Kicks In///SERIES A • Hangry • US$ 10.5M • F&B///POLICY • Coal Export Tax 2026: Indonesia Signals a New Resource-Rent Phase///SERIES B • Honest • Undisclosed • Fintech///POLICY • Export FX Repatriation: Proceeds Routed Through State Banks From 2026///SEED • Arummi Foods • US$ 2M • F&B///POLICY • OJK POJK 4/2025: Financial Aggregators Move Into a Licensing Regime///PRE-SEED • IDRX • US$ 300k • Web3///POLICY • Finfluencer Rules: OJK Tightens Conduct Around Securities Marketing///SERIES C • Yup • US$ 32M • Fintech///POLICY • Dormant Accounts: New Standardization Changes Bank Data and Ops
InfraHigh Impact Oct 10, 2025

Waste-to-Energy: 33 Cities, IDR 91T Capex, New PPP Pipeline

"Indonesia’s WtE acceleration expands to 33 cities with large capex needs—opening a multi-year EPC + financing pipeline."

Intelligence Brief: Indonesia is attempting an infrastructure "two-for-one": solve urban waste and add dispatchable renewables. The national plan targets waste-to-energy facilities across 33 cities, requiring roughly IDR 91T in funding. The rollout is staged—pilot cities first—while central coordination attempts to de-risk feasibility, offtake, and delivery.

SCOPE: 33 CITIES
CAPEX: ~IDR 91T
MODE: PILOTS → TEMPLATE
SOURCE: Presidential Regulation 109/2025 (10 Oct 2025); Danantara CEO Rosan Roeslani announcement

01. The Asset: A Waste Crisis With Energy Potential

The WtE program reframes waste as feedstock: controlled conversion, energy recovery, and reduced landfill pressure. In policy terms, it's a shift from "cleanup" to "productive infrastructure."

Conversion Ratio

1,000 t/day → 10-20 MW

Typical range for incineration-based plants (varies by waste calorific value and technology).

Investment per City

IDR 2-3T

Typical city-level allocation (IDR 91T ÷ 33 cities). Major cities like Jakarta may require 3-4 plants.

02. The Delivery Stack: Central Coordination + City Execution

  • ///
    Feasibility must be standardized Without standardized studies, each city becomes a bespoke fight—and scaling dies in procurement friction.
  • ///
    Offtake is the anchor Dispatchable power only matters if it clears interconnection, pricing, and operational standards. PR 109/2025 sets fixed USD 0.20/kWh tariff with 30-year PPAs.
  • ///
    Land is the hidden bottleneck Land allocation can decide everything. WtE needs space, logistics, and durable local political support—municipalities must provide land free during construction and operation.
Input Process Output
Mixed municipal waste Controlled WtE conversion Electricity + reduced landfill load
Sorting + logistics discipline Feedstock stabilization Higher uptime + more predictable economics

03. Execution Risks: Land, Permits, ESG, and Cashflow

Risk

Community / Environmental pushback

Emission standards, location politics, and trust deficits can stall projects even with funding secured.

Risk

Municipal finance + operator incentives

PR 109/2025 eliminates tipping fees—operators rely solely on electricity revenue (USD 0.20/kWh), simplifying structure but increasing operational efficiency requirements.

Opportunity

If the operating model becomes standardized, WtE can scale like infrastructure: repeatable EPC, repeatable compliance, repeatable offtake. That's how you go from 10 pilots to 33 cities. First tender phase (Nov 2025) targets Bogor, Bekasi, Denpasar, and Yogyakarta.

Analyst Outlook

"WtE is not a technology problem—it's a governance problem. The winners will be the cities that can guarantee land, feedstock quality, and enforcement—then let operators run."

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