23-7-2023 (JAKARTA) Indonesia has the potential to emerge as one of the world’s largest solar panel suppliers by utilizing its abundant reserves of quartz sand or silica sand, according to Minister of Investment/Head of Investment Coordinating Board (BKPM), Bahlil Lahadalia. During a recent presentation on investment realization in Jakarta, he highlighted that President Joko Widodo had instructed BKPM to seek investors outside the nickel, copper, or tin sector.
With one of the largest reserves of quartz sand in the world, Indonesia could provide the main raw material for producing glass and solar panels, which are essential in the green industry. In line with this, Lahadalia stated that they are pursuing a partnership with the Xinyi Group, the world’s largest glass company based in China. The Xinyi Group has expressed a keen interest in investing in Rembang, Batam, Riau Islands, which could be a significant opportunity for Indonesia.
As the world’s leading glass manufacturing company, the Xinyi Group controls over 20% of the world’s market share. Lahadalia confirmed that Xinyi is planning to build a second-largest glass factory in the world in Indonesia, which could make the country one of the largest solar panel suppliers globally. Lahadalia has coordinated with the related ministry, Batam Concession Agency (BP Batam), and landowners to support the Chinese investor’s investment plan, as directed by President Jokowi.
While Lahadalia was hesitant to provide specific details on the investment value from China, he noted that the results of his visit to Xinyi Group were quite positive. Xinyi Group is also the global leader in solar panel manufacturing, leveraging advanced and sustainable technologies to support the global transition to renewable energy.
Lahadalia emphasized that Indonesia’s potential in the green industry should not be limited to the nickel sector only. He added that they could ban quartz sand exports in the future to maximize the benefits of this natural resource. If successful, this partnership could become a significant boost to Indonesia’s economy and solidify its position as a key player in the global green industry.
