The EIB lends DKK 300 million. EUR to finance the new satellite program for Luxembourg SES. The loan from the EIB will help finance SES’s three all-digital satellites serving Western Europe, Africa and the Middle East. These are satellites for fast broadband and reliable IP-based streaming services across Europe, in line with the goals of the EU Gigabit Society.
The European Investment Bank (EIB), the EU’s financing institution, and the leading global provider of content connectivity solutions, SES, announced the details of their €300 million financing agreement. EUR during a press conference at the SES headquarters in Betzdorf, Luxembourg. The seven-year loan will support investment in the design, acquisition and launch of three previously announced satellites that will provide advanced broadcast and broadband services in Western Europe, Africa and the Middle East. The loan is the largest that the EIB has ever granted to a Luxembourg-based company.
Footprint in EMEA
The project, supported by EIB financing, involves the purchase of three satellites from Thales Alenia Space to provide video broadcasting and network services. Operating from SES’s primary TV environment of 19.2 degrees East (ASTRA 1P, ASTRA 1Q) and 57 degrees East (SES-26), SES can enhance its world-class satellite broadcast across Europe and Africa and support dynamic connectivity needs for companies and governments from the heart of Europe in Africa and the Middle East. Two of the three satellites are next-generation flexible and fully software-defined satellites that allow for service reconfiguration and immediate in-orbit adaptation to SES customers’ requirements. All three satellites, when launched in 2024, will be operated from SES headquarters in Luxembourg.
EIB Vice-President Kris Peeters: “Space technology, data and services have become indispensable in the lives of Europeans. I am therefore very excited about this agreement with SES, which directly supports the EU’s space policy. It is an important step in the successful launch of a new generation of satellites , capable of providing advanced broadcast and broadband services to both the private and public sectors in Western Europe and beyond. Space is an important driver of innovation in Europe and we are happy to support space entrepreneurship. The size of the loan, the largest, The EIB has ever granted to a Luxembourg company also shows the strategic importance of the space sector for the EIB and the EU.”
Sandeep Jalan, Chief Financial Officer of SES, said: “We are very pleased to have received this loan from the European Investment Bank. This diversifies SES’ sources of funding on attractive financial terms. The agreement enables us to deliver on our commitment to to broadcast high-quality content from our leading TV neighborhood serving 118 million TV households in France, Germany and Western Europe.These next-generation satellites are also capable of supporting the most ambitious plans of companies and governments across Europe and outside, enabling them to enter the new era of network connectivity services.”
The transaction follows a commitment by the EU and the EIB to strengthen their support for European space companies. It is in line with the goals of the European Commission’s Gigabit Society that all households in Europe must have access to an Internet connection of at least 100 Mbps by 2025.