EIB Global loan will partially fund SES's continued O3b mPOWER medium earth orbit (MEO) fleet expansion enabling additional capacity worldwide. O3b mPOWER satellite network aims to bridge the urban-rural digital divide, supporting objectives of the EU's Global Gateway initiative and the EU Space Programme 2021-2027
Luxembourg, 29 January 2025 - The European Investment Bank's global arm, EIB Global, has signed a 125 million loan agreement with SES, a provider of satellite-enabled content and connectivity solutions, for three satellites of its second-generation medium earth orbit (MEO) O3b mPOWER system. SES has already launched eight of 13 O3b mPOWER satellites, which operate 8 000 km away from the Earth, delivering high throughput and flexibility.
The loan will enable SES to provide enhanced broadband connectivity through its MEO system, reaching underserved and remote areas across Africa, Asia and Latin America. It will also help close the urban-rural digital divide and improve access to essential services like education, healthcare and e-governance.
Digital connectivity is essential for economic and social development, particularly in regions where access to broadband is limited. By fostering enhanced connectivity, this collaboration with SES will not only help to bridge the digital divide, but will also unlock new opportunities by improving quality of life for millions of people. The project will also help strengthen Europe's independence in the area of access to space-based data traffic - reflecting the EIB's commitment to supporting Europe's strategic autonomy in the domains of space and global connectivity, said EIB Vice-President Robert de Groot.
Sandeep Jalan, Chief Financial Officer at SES, said, 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. This agreement further enables us to deliver high-performance, multi-orbit connectivity services securely and reliably to our customers worldwide.
The loan aligns with the European Union's Global Gateway initiative, which promotes investment in secure and sustainable infrastructure to connect people and improve lives around the world. It is also part of the EIB's activities related to the EU Space Programme 2021-2027, strengthening Europe's position in space technology and innovation.
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EIB Global loan will partially fund SES's continued O3b mPOWER medium earth orbit (MEO) fleet expansion enabling additional capacity worldwide. O3b mPOWER satellite network aims to bridge the urban-rural digital divide, supporting objectives of the EU's Global Gateway initiative and the EU Space Programme 2021-2027
