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        SATELITE HISPASAT V

        Signature(s)

        Amount
        € 50,000,000
        Countries
        Sector(s)
        Spain : € 50,000,000
        Telecom : € 50,000,000
        Signature date(s)
        13/07/2005 : € 50,000,000

        Summary sheet

        Release date
        1 October 2003
        Status
        Reference
        Signed | 13/07/2005
        20030166
        Project name
        Promoter - financial intermediary
        Satélite Hispasat V
        Hispasat Canarias S.L.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        40% of project cost
        Approximately EUR 270 million.
        Location
        Sector(s)
        Description
        Objectives

        The project consists of the construction, launching into geo-stationary orbit and operation of a telecommunication satellite. It also includes the construction of a ground control centre in the Canary Islands and the extension of the existing one in Madrid.

        The project will enhance the performance of the European and international information and telecommunication network by providing services including television signals, data communications and internet access.

        Environmental aspects
        Procurement

        The solar-powered satellite at 36 000 km above the earth will have no negative effects on the environment. Sufficient fuel will be available at the end of its operating life of 15 years to remove the satellite from the relatively crowded geo-stationary orbital position to place it in the so-called graveyard orbit in deeper space.

        Contracts for the satellite and launches are awarded after an International Request For Proposals. Insurance to cover the launch risks is obtained following negotiations with the small number of space sector insurance specialists.

        Comments

        Telecommunications.

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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