Hispasat Collaborates in IRIS Project with EU and ESA
Deal News | Dec 18, 2024 | Addleshaw Goddard
Hispasat, alongside Eutelsat and SES, has entered into a groundbreaking agreement with the European Commission and the European Space Agency to form the SpaceRISE consortium, responsible for the IRIS project. IRIS, the European Union's ambitious high-security connectivity satellite constellation, involves the commissioning of 290 low-Earth and medium-Earth orbit satellites, with a total investment amounting to more than EUR 10.5 billion. Addleshaw Goddard served as legal advisors for Hispasat on this venture, which marks the first public-private co-investment model in Europe's aerospace sector. Hispasat, as a key player in the Spanish aerospace industry, will design, develop, and operate the IRIS ground infrastructure, facilitating connections between satellites and terrestrial networks. This strategic engagement enhances Hispasat's capabilities, especially in non-geostationary orbit, thereby extending the company’s geographic and business reach. The participation in IRIS solidifies Hispasat's position as a leader in the European aerospace sector, supporting secure communication networks and broader connectivity advancements.
Sectors
- Aerospace
- Telecommunications
- Public-Private Partnership (PPP)
Geography
- Europe – The IRIS project is a European Union initiative facilitated by major European entities, involving the EU and the ESA.
- Spain – Hispasat, a pivotal player in the IRIS project and Spain's leading communications satellite operator, is headquartered there.
Industry
- Aerospace – The sector involves the design, production, and management of aircraft and spacecraft. Relevant due to the IRIS satellite project and SpaceRISE consortium.
- Telecommunications – Industry entails transmission of information over distances. Pertinent to Hispasat's role as a satellite operator enabling broadband and secure connectivity.
- Public-Private Partnership (PPP) – An industry that involves collaboration between government agencies and private-sector companies. The IRIS project exemplifies a PPP model in aerospace in Europe.
Financials
- 10.5 billion – Total investment in the IRIS satellite project, marking a significant public-private partnership in Europe.
- 600 million – Hispasat's potential investment in the IRIS project, enhancing its satellite capabilities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hispasat | Target and Consortium Member | Company | Spanish satellite operator leading the innovation in Spain's aerospace sector, managing the ground infrastructure for IRIS. |
| Eutelsat | Consortium Member | Company | Key player in the SpaceRISE consortium, contributing to the IRIS satellite network. |
| SES | Consortium Member | Company | A major satellite operator participating in the SpaceRISE consortium for the IRIS project. |
| Addleshaw Goddard | Legal Advisor | Company | Provided legal advice for Hispasat in the agreement for forming the SpaceRISE consortium. |
| European Commission | Partnership Entity | Government | Involved in the public-private partnership model for the IRIS project. |
| European Space Agency (ESA) | Partnership Entity | Government | Collaborator in the IRIS satellite constellation as part of the SpaceRISE consortium. |
| Roberto Pomares | Corporate Partner | Person | Coordinated the Addleshaw Goddard team advising on the SpaceRISE consortium deal. |
| Rosa Chen | Associate | Person | Member of the Addleshaw Goddard team advising on the SpaceRISE deal. |