[Global Market Note] Indonesia Launches 100GW Solar Project... Will Korean Solar Firms Seize New Opportunities?

$73 Billion to Be Invested in Building 100GW Within Three Years

Potential Participation of Korean Companies Like Hanwha Qcells and OCI

Southeast Asia’s Solar Market Dominated by Chinese Products

Procurement Methods and Bidding Conditi

Indonesia has launched a mega-scale project to build 100GW of solar power facilities within three years—a plan that would increase Indonesia's current solar generation capacity by more than 60 times. It is expected that, in addition to the construction of the power plants, demand for solar modules, materials, energy storage systems (ESS), and power grids will also grow. This suggests new market opportunities may open for Korean companies.

President Lee Jae-myung and Indonesian President Prabowo Subianto shake hands on the 1st at the Blue House before an expanded summit meeting. Photo by Yonhap News

On August 25, Indonesian President Prabowo Subianto officially launched the 100GW solar power program in Bali. The government will first proceed with bidding for six projects totaling 4.7GW across key regions, including Bali and West Java.

The Indonesian Ministry of Energy and Mineral Resources has estimated that the overall project will require about USD 73 billion (approximately 99 trillion KRW). By expanding solar power, the government aims to reduce its dependence on diesel, lower energy subsidy expenditures, create jobs, and cut greenhouse gas emissions.

Currently, Indonesia's total power generation capacity stands at about 108GW, but solar power accounts for just 1.5GW. A significant portion of electricity generation relies on coal, with renewable energy—including hydropower—comprising only 17.9% of the mix. If the plan proceeds as intended, it would mean building new solar facilities over the next three years equivalent in scale to Indonesia’s entire current power generation capacity.

If the program gains momentum, opportunities for Korean solar module, ESS, and power equipment manufacturers are expected to expand. One of the initial projects in Bali will combine a 300MWp solar plant with a 1,000MWh battery energy storage system (BESS). The goal is to integrate with the 150kV transmission network and start commercial operation by 2028.

However, the headline figure of 100GW does not guarantee immediate orders for Korean companies. The Southeast Asian solar market is led by Chinese products with price competitiveness, making it difficult for domestic firms to secure large-scale export volumes of cells and modules alone.

The key will be the upcoming procurement and bidding conditions. Leading Korean solar companies such as Hanwha Solutions Qcells and OCI Holdings are expanding beyond simple equipment supply into areas such as engineering, procurement, and construction (EPC), materials, and power generation businesses. As projects become more concrete, it is anticipated that each company can explore participation strategies that leverage their unique strengths.

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