SES is satellite telecommunications provider and the seven-year term loan will back “investments related to the design, procurement and launch” of three satellites to deliver broadcast and broadband services spanning Western Europe, Africa and the Middle East.
Specifically, the project includes the procurement of the satellites from Thales Alenia Space to deliver video broadcasting as well as network services. Operating from SES’s “prime TV neighbourhood” of 19.2 degrees East (ASTRA 1P, ASTRA 1Q) and 57 degrees East (SES-26, pictured right) will enable SES to improve satellite broadcast over Europe and Africa, and support dynamic connectivity needs for companies and governments.
“Two of the three satellites are next-generation, flexible and fully software-defined satellites that will enable service reconfiguration and instant in-orbit adjustment to SES customers’ demands. All three satellites, when launched in 2024, will be operated from SES’s headquarters in Luxembourg,” said the EIB.
The financing agreement – which is the largest amount ever provided by the bank to a Luxembourg-based company – was announced at the SES headquarters in Betzdorf.
The EIB vice-president Kris Peeters said the size of the loan demonstrated how strategically important the space sector is for the EIB and the EU:
“Space technology, data and services have become indispensable in the lives of Europeans. I am therefore very enthusiastic about this agreement with SES, which directly supports the EU space policy.”
“It is a big step in the successful launch of a new generation of satellites able to deliver advanced broadcast and broadband services for the benefit of both the private and public sectors in Western Europe and beyond. Space is a key driver of innovation in Europe and we are eager to support space entrepreneurship.”
The funding decision is in line with the “Gigabit Society” targets of the European Commission that all households in Europe shall have access to at least 100 Mbps internet connectivity by 2025.
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