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Europe’s Sovereign Connectivity Vision Takes a Major Leap Forward
SES has achieved a pivotal breakthrough in European space infrastructure, successfully completing the Rendez-vous 1 (RDV1) phase of the ambitious Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²) programme.
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This milestone marks the transition from planning to active implementation for the programme’s Medium Earth Orbit (MEO) segment, firmly reinforcing Europe’s trajectory toward sovereign, resilient, and secure satellite communications capabilities.
Validating the Technical and Financial Blueprint for 2030
The successful completion of RDV1 provides validated clarity on the programme’s long-term scope, performance metrics, and economic framework. SES has confirmed its expected capital commitment for the MEO segment at up to €1.35 billion, aligned with the current programme scope.
This investment will support the deployment of 18 advanced MEO satellites, with operational services on track to commence in 2030.
The financial commitment for 2026 has already been factored into SES’s previously communicated FY26 Capex outlook, with the company confirming that no future exceptional cash proceeds will be diverted to fund the project.
Since the signing of the IRIS² Concession Contract in December 2024, the European Commission, the SES-led SpaceRISE consortium, and the European Space Agency (ESA) have collaborated extensively to validate costs, technical requirements, timelines, and industrial arrangements.
RDV1 now establishes a robust baseline that reduces capital requirements, enhances satellite capabilities, and expands SES’s role in programme delivery.
A Disciplined Financial Strategy with Strong Commercial Returns
SES’s participation in IRIS² remains firmly anchored in its disciplined financial policy, benefiting from significant public funding and built-in protection mechanisms.
The contract’s Internal Rate of Return (IRR) is expected to meet the company’s minimum 10% hurdle rate, supported by a compelling commercial value proposition.
Crucially, approximately 90% of the MEO capacity generated by the programme will remain commercially exploitable by SES. This creates substantial long-term revenue opportunities across key growth sectors, including government communications, maritime and aviation mobility, enterprise networks, and cloud connectivity services over the satellites’ operational lifetime.
Advancing SES’s Next-Generation MEO Strategy
IRIS² is not merely a sovereign project for Europe; it is a cornerstone of SES’s broader next-generation MEO roadmap. Building on the proven capabilities of its existing O3b fleet and the forward-looking meoSphere strategy, the programme extends SES’s technological trajectory well into the next decade.
It uniquely positions the company to meet surging demand for high-performance, secure, and resilient connectivity across both government and commercial markets.
SES will take a leading role in the technical execution, designing and building the payloads for the MEO satellites directly from its facilities in Luxembourg. The company will also perform satellite assembly, integration, and testing in-house.
Additionally, SES will spearhead user terminal development, manage network operations, and provision LEO/MEO services through dedicated IRIS² control centres, further cementing its status as a multi-orbit communications powerhouse.
A Milestone for European Security and Industrial Leadership
Commenting on the achievement, Adel Al-Saleh, CEO of SES, stated:
“The successful completion of RDV1 marks an important step towards delivering Europe’s next-generation secure, sovereign connectivity infrastructure. IRIS² builds on SES’s proven leadership in MEO and reinforces our long-term vision for secure, resilient and high-performance connectivity. Together with our existing O3b fleet and meoSphere roadmap, the programme positions SES to address evolving government and commercial requirements while supporting Europe’s ambitions for secure and sovereign multi-orbit communications.”
Next Steps: Moving into Full Implementation
With the RDV1 phase complete, SES and its consortium partners are shifting focus to intensive implementation activities. The immediate roadmap includes advanced satellite development, payload integration, network operations setup, and user terminal deployment.
The consortium will continue progressing through future review and validation milestones, with operational services still scheduled to begin in 2030, ensuring Europe’s digital sovereignty remains on course.
