EU Signs €10.6B Deal for Iris² Satellite Network to Rival Starlink

Dec 16, 2024, 02:29 PM

The European Union, in collaboration with the European Space Agency (ESA), has embarked on an ambitious space program by signing contracts worth €10.6 billion for the development of the Iris² satellite network. This initiative aims to rival Elon Musk's Starlink, providing secure and fast communications for EU governments, European companies, and citizens. The project, which involves a multi-orbit constellation of approximately 300 satellites, is a significant step towards Europe's digital and strategic autonomy. The funding for Iris² includes €6 billion from the EU budget, €550 million from ESA, and €4.1 billion from private investments by the SpaceRise consortium, which includes major players like Eutelsat, SES, and Hispasat. The network, expected to start operations by 2030, will offer high-speed broadband connectivity and secure communication services across Europe and potentially beyond, with 1/6th of its capacity reserved for government needs. The project is structured under a 12-year concession agreement, with the first launches scheduled for 2029 using 13 Ariane 6 rockets.