EIB Global Lends €125 Million To Finance SES’s Medium Earth Orbit Satellites
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.
For further information please contact:
Suzanne Ong
Communications
Tel. +352 710 725 500
suzanne.ong@ses.com
Begum Iman
b.iman@eib.org
+352 691 299 788
Website: www.eib.org/press
Press Office: press@eib.org
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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. By 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). Further information is available at: www.ses.com
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its 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.