Spain-based Hispasat has received €123m financing from Export Development Canada (EDC) for the Hispasat 1F satellite project.
Planned to be built by Canada’s MacDonald, Dettwiler and Associates (MDA) and its subsidiary Space Systems/Loral, the Hispasat 1F will provide Hispasat with additional Ku band capacity in the Andean region and in Brazil.
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Based on the SSL 1300 satellite platform, the satellite is designed to operate for approximately 15 years and is scheduled for launch in 2016.
It will replace Hispasat 1D at 30° W longitude, and cater to television, broadband, corporate networks and other telecommunications applications in Europe, North Africa, North America and South America.
Hispasat 1F is said to increase Hispasat’s transatlantic capacity, Ka band capacity with European coverage, as well as expand its broadband service offerings in the region.
EDC Financing and Investments senior vice-president Carl Burlock said: "Repeat business is essential to companies in the satellite telecommunications industry.
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By GlobalData"EDC’s focus was to provide Hispasat with competitive financing critical to building a stronger relationship with MDA and SSL, ultimately encouraging growth in Canada’s high-tech sector."
MDA Strategy and Finance senior vice-president William McCombe said: "Competitive, long term financing from EDC provided stability and confidence in our contract.
"The end result is that we will be able to provide a new leading-edge communications satellite in a very important market, and garner more visibility across the industry."
Image: An artistic view of Hispasat 1F. Photo: courtesy of SSL.
