BlackSoil Global has partnered with Nippon Wealth Management to connect Japanese investors with growth companies in Southeast Asia, while Danantara Indonesia has started construction of a second waste-to-energy plant.
BlackSoil Global, Nippon Wealth Management ink pact
BlackSoil Global, the international private credit platform of BlackSoil Group, has partnered with Japan-based investment and asset management firm Nippon Wealth Management (NWM) to connect Japanese investors with growth companies in Southeast Asia.
As part of the partnership, NWM signed a memorandum of understanding with Singapore-based Blue Ashva Capital Pte. Ltd. on August 21. Blue Ashva is an asset management company within the BlackSoil Group and operates as part of BlackSoil Global.
The partnership will combine BlackSoil Global’s regional capabilities in sourcing, assessing and structuring private credit opportunities with NWM’s network of Japanese investors and investment product expertise, according to the companies.
“This partnership brings together NWM’s strong investor network in Japan with BlackSoil Global’s regional private credit capabilities,” said Varun Gupta, co-founder and managing partner of BlackSoil Global.
The firms plan to explore private credit investments, tailored investment products, new fund structures and co-investment opportunities for Japanese investors seeking exposure to Southeast Asia.
The firms will work across the investment lifecycle, including identifying opportunities, credit assessment, structuring and post-investment monitoring.
Hiroaki Inosako, representative director and CEO of NWM, said BlackSoil’s track record in private credit across emerging Asian markets was aligned with the investment standards of Japan’s ultra-high-net-worth investors.
“This partnership with BlackSoil is not a one-off arrangement,” Inosako said. “It reflects both companies’ long-term commitment to Japan’s asset management market.”
Danantara starts construction of second WtE plant
Danantara Indonesia has started construction of its second 3-trillion-rupiah ($169.3 million) waste-to-energy (WtE) plant in Bekasi, after the one in Bali.
The facility, developed by Danantara Investment Management (DIM) through its WtE unit Denera, will process up to 1,500 tonnes of waste a day and is expected to start operations by mid-2028. It is designated as a National Strategic Project.
The project has secured a power purchase agreement with state utility PLN, which will buy electricity generated by the plant at $0.20 per kilowatt-hour.
The Bekasi project follows Danantara’s first WtE project in Bali, where construction began in July. That facility, also worth about 3 trillion rupiah, is expected to process 1,500 tonnes of waste daily and start operating in the first half of 2028.
Danantara is building a larger pipeline around the two projects. In July, DIM selected conditional partners for eight further WtE projects across 20 cities and regencies, including Medan, Lampung, Serang, Semarang, Surabaya, Bogor and Yogyakarta. The selected groups include France’s SUEZ and Veolia, China’s Everbright and Indonesian-led consortia.
Those projects have yet to receive final awards. The selected partners must first complete feasibility studies, finalise project structures, establish joint ventures, and secure financing.
The Bekasi project, therefore, marks another step in Danantara’s effort to turn waste management into an investable infrastructure sector. The fund has said each WtE facility requires about 3 trillion rupiah in investment.
