Fixed satellite provider Intelsat is the successful bidder for the public auction of the Protostar 1 satellite for a value of $210m.
The Space Systems Loral-built satellite has 22 Ku-band and 38 C-band transponders and is expected to have a design life of 16 years from the time of its launch in 2008.
The satellite will be renamed Intelsat 25 and will join Intelsat’s global fleet to serve the Atlantic Ocean region along with the other satellites.
Intelsat Business Development and General Counsel executive vice-president Phillip Spector said that a healthy, in-orbit satellite is extremely valuable, given the company’s high fleet utilisation.
“Over the past few years we have enjoyed strong demand for our services in Africa, and this capacity will allow us to support the growth requirements of our customers, including wireless operators and broadband service providers,” he said.
“Because of our operating scale and collection of valuable orbital locations, we will be able to integrate and operate Intelsat 25 with minimal incremental cost, and rapidly build a backlog of revenue for the new satellite.”
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By GlobalDataProtostar, an Asian satellite services operator, placed the Protostar 1 on public auction after it went bankrupt in July 2009.
The transaction between Protostar and Intelsat is subject to regulatory and bankruptcy court approvals, and is expected to be concluded in a month’s time.
