The European Investment Bank’s global arm, EIB Global, has signed a €125 million loan agreement with satellite operator SES to fund the deployment of three new satellites for its second-generation medium earth orbit (MEO) O3b mPOWER system
SES has already launched eight of 13 O3b mPOWER satellites, which operate at 8,000km away from the Earth.
The loan will enable SES to expand connectivity through its MEO system to reach a wider area across Africa, Asia and Latin America.
“We are pleased to have secured this term loan from the EIB, which reflects their confidence in our business and network and underscores our ability to secure funding from diverse sources while bolstering SES’s financial foundation,” said Sandeep Jalan, Chief Financial Officer at SES.
“This agreement further enables us to deliver high-performance, multi-orbit connectivity services securely and reliably to our customers worldwide.”
