Artist rendition of the SES O3b mPOWER constellation. Photo: SES

SES has secured a 125 million euro ($130 million) loan agreement with the European Investment Bank’s global arm, EIB Global to fund three satellites in the O3b mPOWER constellation. 

SES said in a Jan. 29 announcement that the loan will partially fund SES’s continued O3b mPOWER fleet expansion for additional capacity worldwide. The constellation is set to have 13 satellites total, eight of which have already launched. The most recent two satellites launched in December. 

The EIB is the long-term lending institution of the European Union, owned by the Member States and focused on EU policy objectives. EIB Group is its specialized arm dedicated to international partnerships and development finance. This loan aligns with the European Union’s Global Gateway initiative, which involves sustainable infrastructure and connectivity, and the EU Space Programme 2021-2027. 

“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,” said EIB Vice-President Robert de Groot. “The project will also help strengthen Europe’s independence in the area of access to space-based data traffic.” 

Last year, the EIB loaned SES 300 million euros to finance three Geostationary Orbit (GEO) satellites.

O3b mPOWER manufacturer Boeing recently reported that it plans to deliver satellites nine through 11 in the first half of 2025. Boeing is sharing capital expenditures for the 12th and 13th satellites in the constellation under a deal announced in 2023.