Finally, a sign of life for Europe’s sovereign satellite Internet constellation
The European Commission announced Thursday it plans to sign a contract with the continent’s leading space companies before the end of the year to begin development of a 290-satellite broadband Internet network estimated to cost more than 10 billion euros (about $10.9 billion).
The press release announcing the contract award to IRIS²—known as Infrastructure for Resilience, Interconnectivity and Security by Satellite—did not specify the financial details of the agreement, but European media has widely reported the 10 billion euro cost. The commission’s decision follows an evaluation of the best-and-final offer from the SpaceRISE consortium formed by European satellite network operators SES, Eutelsat, and Hispasat.
We’ll do it ourselves
The European Commission, the European Union’s executive arm, is managing the IRIS² program, which will also receive funding from the European Space Agency and European industry in a public-private partnership. European governments previously expected to provide around 60 percent of the funding for the initiative. Under that plan, European industry would supply roughly 40 percent of the money in a public-private partnership. The specifics of the final cost-sharing arrangement were not available Thursday.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”