• The project, whose value exceeds €10.5 billion, is the first public-private co-investment model in the aerospace sector in Europe.
• The SpaceRISE consortium, formed by Eutelsat, SES and Hispasat, will be in charge of building and operating the 290 satellites that will make up the IRIS² constellation.
• Hispasat will be responsible for the design, deliver and operation of the IRIS² ground segment, including all the facilities necessary for the management and operation of the different orbital layers of the constellation, as well as the interconnection with terrestrial networks.

Addleshaw Goddard has advised Hispasat on the agreement for the creation of SpaceRISE, consortium formed by Eutelsat, SES and Hispasat, as well as on the agreements with the European Commission and the European Space Agency for the launch of IRIS² (Satellite Resilience, Interconnectivity and Security Infrastructure), the European Union's constellation of secure connectivity satellites. This is a flagship project of the European Union and aims to achieve an interconnected and secure Europe. IRIS² will involve an investment of more than €10.5 billion and is the first public-private co-investment model (PPP) in the aerospace sector in Europe.

Hispasat's investment in IRIS² could amount to up to €600 million and will mean the Spanish company's access to non-geostationary orbit capabilities in regions of high strategic interest. This complements the Hispasat Group's current product portfolio, expanding its geographical areas and business verticals.

The Addleshaw Goddard team in charge of leading this deal has been coordinated by Corporate partner Roberto Pomares and associate Rosa Chen.

Roberto Pomares points out that:

IRIS² is made up of a network of 290 new low-Earth orbit and medium-Earth orbit satellites that will be designed, built and operated by SpaceRISE over the next 12 years. Within this project, Hispasat will be responsible for designing, developing and implementing the ground segment, including all the facilities necessary for the management and operation of the different orbital layers of the constellation, as well as the interconnection with terrestrial networks.

Hispasat, Redeia's communications satellite operator, is the main driver of innovation in the Spanish aerospace sector. It is a communications bridge between Europe and America as a provider of broadband internet connection. It also leads the broadcasting and distribution of audiovisual content in Spanish and Portuguese.