By Romel S. Gurky
Canadian carbon management firm DevvStream Corp. announced on Monday that it has signed two new memoranda of understanding (MoUs) in Indonesia to develop waste-to-energy (WtE) projects.
The MoU’s are with PT Tren Solusi Transformasi Indonesia for a municipal WtE facility in West Java and PT Kartika Satu Graha Mandiri for a landfill-to-renewable-power project in Depok City, also in West Java. Under both MoUs, DevvStream aims to structure, certify, and market International Renewable Energy Certificates (I-RECs) and verified carbon credits, potentially unlocking new recurring revenue streams upon successful project execution.
“These agreements further our commitment to Southeast Asia’s energy transition by addressing two critical issues—waste management and clean power generation,” said Sunny Trinh, CEO of DevvStream. “Together with our hydroelectric asset in South Sulawesi and our solar energy collaboration in the Philippines, these projects add depth to our portfolio and position DevvStream as a regional player in the environmental asset space.”
Read also: NDB plans to fund WTE projects in Indonesia
The company’s expanded Asia-Pacific strategy comes amid projections that the Southeast Asian WtE market will grow from US$4.22 billion in 2025 to US$7.70 billion by 2030, according to Mordor Intelligence.
The WtE projects are expected to generate I-RECs and carbon credits by converting municipal and landfill waste into grid-connected renewable energy, contributing to both emissions reductions and local energy supply. DevvStream's role will include project structuring and management in return for a share of the environmental credits.
Founded in 2021, DevvStream specializes in the development, investment, and sale of environmental assets across nature-based solutions, technology-driven projects, and energy transition initiatives. Its three-pronged strategy focuses on offset portfolios, project development, and targeted acquisitions.
Editing by Alexander Ginting
