Release date: 1 October 2003
Promoter – Financial Intermediary
Hispasat Canarias S.L.Location
Description
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.
Objectives
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.
Comments
Telecommunications.
Sector(s)
Proposed EIB finance (Approximate amount)
40% of project cost
Total cost (Approximate amount)
Approximately EUR 270 million.
Environmental aspects
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.
Procurement
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.
Status
Signed - 13/07/2005
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).