HPS to invest Rp7.77 trillion in TBS waste-management expansion

HPS Investment Partners plans to invest SGD555 million in TBS Energi Utama, an Indonesian energy company focused on expanding its waste-management business.

The investment is equivalent to about Rp7.77 trillion and will be made in stages through new preferred shares and other instruments.

TBS plans to use the funding to grow its waste business across Asia, through its existing operations and possible acquisitions.

Its services cover waste collection, sorting and recycling, as well as medical and industrial waste treatment and energy production.

The company is not prioritising Indonesia's waste-to-electricity projects, and instead aims to build an integrated regional business.

TBS operates waste-management businesses in Singapore and Indonesia, and its three companies in those markets collected about 760,000 tonnes of waste in the first half of 2026.

The investment could help TBS expand its services and revenue base, though the sources give no timeline for the expansion.