SES completed the 'Rendez-vous 1' (RDV1) phase for the European Union's IRIS² satellite program. This milestone transitions the project into the implementation phase and clarifies the economics of the Medium Earth Orbit (MEO) segment.
SES confirmed a capital commitment of up to €1.35 billion for the MEO segment. This investment supports Europe’s development of a sovereign and secure satellite connectivity network.
The company stated the participation aligns with its disciplined financial policy. The contract benefits from public funding and built-in protection mechanisms. SES expects the internal rate of return to meet its minimum 10% hurdle rate.