The answer is Yes.
Theorem. The following are equivalent for any Hausdorff
space X.
X is compact.
Xκ is Lindelöf for any cardinal
κ.
Xω1 is Lindelöf.
Proof. The forward implications are easy, using Tychonoff
for 1 implies 2, since if X is compact, then
Xκ is compact and hence Lindelöf.
So suppose that we have a space X that is not compact, but
Xω1 is Lindelöf. It
follows that X is Lindelöf. Thus, there is a countable
cover having no finite subcover. From this, we may
construct a strictly increasing sequence of open sets
U0 subset U1 subset ... Un
... with the union U{ Un | n in ω} = X.
For each J subset ω1 of size n, let UJ be
the set {s in Xω1 | s(α)
in Un for each α in J}. As the size of J
increases, the set UJ allows more freedom on the
coordinates in J, but restricts more coordinates. If J has
size n, let us call UJ an open n-box, since it
restricts the sequences on n coordinates. Let F be the
family of all such UJ for all finite J subset
ω1.
This F is a cover of Xω1. To
see this, consider any point s in
Xω1. For each α in
ω1, there is some n with s(α) in
Un. Since ω1 is uncountable,
there must be some value of n that is repeated unboundedly
often, in particular, some n occurs at least n times. Let J
be the coordinates where this n appears. Thus, s is in
UJ. So F is a cover.
Since Xω1 is Lindelöf,
there must be a countable subcover F0. Let J* be
the union of all the finite J that appear in the
UJ in this subcover. So J* is a countable subset
of ω1. Note that J* cannot be finite,
since then the sizes of the J appearing in F0
would be bounded and it could not cover
Xω1. We may rearrange indices
and assume without loss of generality that J*=ω is
the first ω many coordinates. So F0 is
really a cover of Xω, by ignoring the
other coordinates.
But this is impossible. Define a sequence s in
Xω1 by choosing s(n) to be
outside Un+1, and otherwise arbitrary. Note that
s is in Un in fewer than n coordinates below
ω, and so s is not in any n-box with J subset
ω, since any such box has n values in Un.
Thus, s is not in any set in F0, so it is not a
cover. QED
In particular, to answer the question at the end, it suffices to take any uncountable kappa.