PT Chandra Asri Pacific Tbk (TPIA) is exploring new business opportunities in the green energy sector. The issuer affiliated with tycoon Prajogo Pangestu is calculating projected revenue contributions from the Danantara Waste-to-Energy (PSEL) project in Serang Raya, Banten. Through its subsidiary, PT Chandra Waste Energy (PT CWE), the company is currently focusing on completing the initial feasibility study phase.
General Manager of Legal & Corporate Secretary TPIA, Erri Dewi Riani, explained that the company cannot yet disclose estimated revenue or net profit figures to be earned by PT CWE. This is because the project is still in the initial evaluation phase. The continuation of this strategic project will heavily depend on the results of the feasibility study (FS) prior to the issuance of a final decision or final letter of award.
PT CWE itself is part of the Masa Depan Energi Indonesia consortium, collaborating with Chinese company Beijing GeoEnviron Engineering and Tech Inc. This consortium aims to manage waste with a capacity of up to 1,161 tons per day in the Serang Raya region. Within the partnership, the role of TPIA's subsidiary focuses on evaluating technical, commercial, financial aspects, as well as overall project development.
This expansion step aligns with the company's long-term business diversification strategy. Head of Corporate Communications of Chandra Asri Group, Chrysanthi Tarigan, revealed that waste-to-energy management is an important pillar for the company's commitment to supporting a circular economy and sustainable infrastructure in the country. This diversification is expected to bolster the company's future business growth.
As a side note, PT CWE was previously named PT Chandra Global Maritim, established in 2025 with an initial business focus on the sea transportation sector. The company is wholly owned by TPIA and is currently still in the early development phase, with recorded assets of US$12,000 as of Q1 2026.
Although TPIA's infrastructure business line currently contributes the smallest portion on a consolidated basis, this sector shows a positive growth trend from US$52.01 million in early 2025 to US$87.50 million in the first quarter of 2026. On the other hand, Chandra Asri has actually been operating an independent waste utilization facility through the Refuse-Derived Fuel (RDF) cofiring method in Pulo Ampel, Serang, to internally curb their operational carbon emissions.
