EIB Global Loan Boosts SES’s O3b mPOWER Satellite Network to Enhance Connectivity and Bridge the Digital Divide

EIB Global Loan Boosts SES’s O3b mPOWER Satellite Network to Enhance Connectivity and Bridge the Digital Divide

(IN BRIEF) SES has secured a €125 million loan from EIB Global to expand its O3b mPOWER satellite network with three additional satellites. The loan will support the network’s efforts to provide high-performance broadband to underserved regions, particularly in Africa, Asia, and Latin America. SES has already launched eight of the planned 13 satellites, operating at 8,000 km from Earth to deliver flexible connectivity solutions. The expansion is aligned with the EU’s Global Gateway initiative, aiming to reduce the urban-rural digital divide and improve access to essential services. The loan also supports the EU’s broader space technology goals as outlined in the EU Space Programme 2021-2027.

(PRESS RELEASE) LUXEMBOURG, 29-Jan-2025 — /EuropaWire/ — SES, a global leader in satellite-based content and connectivity, has secured a €125 million loan from the European Investment Bank’s global division, EIB Global, to support the continued expansion of its O3b mPOWER medium earth orbit (MEO) satellite fleet. This loan will partially fund the addition of three satellites to the O3b mPOWER system, significantly enhancing the satellite network’s capacity to provide high-performance broadband services globally.

SES has already launched eight of the 13 planned O3b mPOWER satellites, which operate at a distance of 8,000 km from Earth, delivering flexible and high-throughput connectivity solutions. The funding will enable SES to further extend its reach, offering enhanced broadband access to underserved and remote regions, particularly in Africa, Asia, and Latin America. This expansion is aligned with the European Union’s Global Gateway initiative, which aims to close the urban-rural digital divide and improve access to essential services like education, healthcare, and e-governance.

EIB Vice-President Robert de Groot commented on the significance of the collaboration, saying, “Digital connectivity is vital for economic and social development, especially in regions where broadband access remains limited. This partnership with SES not only advances the goal of bridging the digital divide but also enhances the quality of life for millions of people. It further strengthens Europe’s strategic autonomy in the area of space-based data traffic, reflecting the EIB’s commitment to supporting Europe’s role in global connectivity.”

Sandeep Jalan, Chief Financial Officer at SES, expressed gratitude for the loan, stating, “We are pleased to secure this financial support from the EIB, which underscores their confidence in our business and our ability to generate funding from diverse sources. This loan strengthens SES’s financial foundation and allows us to continue providing reliable, multi-orbit connectivity services to customers worldwide.”

This loan also supports the European Union’s broader objectives outlined in the EU Space Programme 2021-2027, strengthening Europe’s leadership in space technology and innovation.

Background information

About EIB Global

The EIB is the long-term lending institution of the European Union, owned by the Member States. It finances investments that contribute to EU policy objectives.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world.

About SES

SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous orbit fleet and medium earth orbit (GEO-MEO) constellation of satellites, offering a combination of global coverage and high-performance services. Using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG).

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SOURCE: European Investment Bank