EIB invests €300 million in SES’s new satellites programme

SES Receives €300 Million in EIB Satellite Financing

The European Investment Bank (EIB) and global content connectivity solutions provider SES recently announced details of their €300 million financing agreement.

The press meeting was held at the SES headquarters in Betzdorf, Luxembourg.

The seven-year term loan will allow for investments to be made in the design, procurement and launch of three satellites.

These satellites will be offering advanced broadcast and broadband services to Western Europe, Africa and the Middle East.

This loan is the largest amount of money ever provided by the EIB to a company based in Luxembourg.

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The project supported by EIB financing includes the procurement of three satellites from Thales Alenia Space.

All three satellites will be launched in 2024 and will operate from SES’s headquarters in Luxembourg.

EIB Vice-President Kris Peeters, speaking on the loan, said, “space technology, data, and services have become indispensable in the lives of Europeans.

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He was therefore very enthusiastic about this agreement with SES, which directly supports the EU space policy.

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Sandeep Jalan, Chief Financial Officer of SES, said: “We are very happy to have secured this term loan from the European Investment Bank.