Eutelsat gets a £200 million grant from EIB for a satellite launch

Eutelsat gets a £200 million grant from EIB for a satellite launch

Eutelsat, a satellite company, loaned £200 million by the European Investment Bank (EIB) to launch a satellite. The new satellite is developed to help promote capacity and offer affordable and ubiquitous mobile broadband services in Europe. Eutelsat’s new satellite is known as KONNECT VHTS. It will provide unparalleled download and upload capacity for fixed and mobile broadband services. The loan will be used in satellite procurement and launch and will be repaid in eight years.

The satellite’s weight is 6.3 tonnes and 500 Gbps’s Ka-band capacity. Eutelsat claims that KONNECT VHTS will be the first satellite to carry the most superior on-board digital processor that has never been put into orbit. The satellite is expected to deliver very high-speed internet access to businesses, households, and public administrations in Europe.

Eutelsat CEO, Rodolphe Belmer, said that the long-term loan with EIB would help keyspace partners such as Eutelsat to acquire diversified and captivating financing sources. He added that he is happy that the European Union has a plan for supporting the space sector, hence placing space connectivity at the top of its priorities. This marks the EU’s commitment and belief in GEOs as a crucial complement to connectivity to unserved or poorly served areas that are faster and cheaper than using terrestrial infrastructure in remote regions.

Ambroise Fayolle, EIB vice-president, said it is essential to invest in a next-generation satellite that can provide cost-effective, accessible, and competitive connectivity to all people. He added that space is one of the innovative areas in Europe. This type of investment shows how the EU can help innovators, researchers, and entrepreneurs speed up advanced technologies’ development to help consumers, clients, public authorities, and service providers.

Recently, Eutelsat agreed with InterSat, its distribution partner, to offer connectivity services to the Post Office in Côte d’Ivoire. The agreement allows the connection of over 170 post offices all over the country. This means that all these post offices will be connected with KONNECT Wi-Fi hotspots in poor coverage areas. The connectivity will allow local consumers to access broadband solutions from the Post Office. Eutelsat says that it will expand the operation scope in the future to about 3000 parcel points all over the nation.

Eutelsat says that with world satellites’ fleet and related ground infrastructure will enable customers across data, video, government, fixed, and wideband mobile markets to pass on information efficiently to their clients regardless of where they are.