Hispasat Leading the €10.5 Billion IRIS² Project with European Partners
Deal News | Dec 17, 2024 | Iberian Lawyer
Addleshaw Goddard has played a pivotal role in providing legal advisory to Hispasat as part of the SpaceRISE consortium, alongside Eutelsat and SES, for the ambitious IRIS² project initiated by the European Union. The €10.5 billion project represents Europe's first significant public-private partnership in the aerospace domain, aimed at enhancing Europe's communication resilience with a constellation of 290 low and medium-Earth orbit satellites. Hispasat, a key figure in the Spanish aerospace industry and a subsidiary of Redeia, is investing up to €600 million to expand its capabilities by managing the project's ground segment. Legal expertise was crucial in securing key agreements with the European Commission and European Space Agency. The initiative highlights the EU's dedication to secure and integrated communication systems while setting a precedent in public-private aerospace partnerships.
Sectors
- Aerospace & Defense
- Legal Services
Geography
- Europe – The IRIS² project involves the European Union's participation and the establishment of secure satellite communication systems in Europe.
- Spain – Hispasat, the main participant in the article, is a key player in the Spanish aerospace sector.
Industry
- Aerospace & Defense – The article focuses on the creation and operation of satellite constellations, indicating its profound importance to the Aerospace & Defense sector.
- Legal Services – Addleshaw Goddard's legal advisory role in the project highlights the essential function of Legal Services in supporting large-scale international projects.
Financials
- €10.5 billion – Total investment amount in the IRIS² project.
- €600 million – Investment by Hispasat as part of the IRIS² project to expand into non-geostationary orbits.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Addleshaw Goddard | Legal Advisor | Company | International law firm providing legal advice to Hispasat on the IRIS² project. |
| Hispasat | Target Company | Company | Spanish satellite operator involved in managing and designing the ground segment of the IRIS² satellite project. |
| Eutelsat | Consortium Partner | Company | Partnering with Hispasat and SES in the SpaceRISE consortium for the IRIS² project. |
| SES | Consortium Partner | Company | Partnering with Hispasat and Eutelsat in the SpaceRISE consortium for the IRIS² project. |
| European Commission | Government | Government | European Union executive body involved in securing agreements for the IRIS² project. |
| European Space Agency | Agency | Government | Providing support and agreements for the launch of the IRIS² project. |
| Redeia | Parent Company | Company | Parent company of Hispasat, involved in the Spanish aerospace industry. |