The EU has signed a deal for its IRIS² constellation of 290 communication satellites that will operate in both medium and low-earth orbit. The Starlink rival will provide secure connectivity to governmental users as well as private companies and European citizens, and bring high-speed internet to dead-zones. The public-private deal valued at €10.6 billion (about $11 billion), according to The Financial Times, is expected to come online by 2030. 

SpaceRISE — a consortium led by European satellite network operators SES, Eutelsat, and Hispasat, and supported by European satcom subcontractors like Airbus and Deutsche Telekom — has been given a 12-year concession contract to develop, deploy, and operate the IRIS² constellation. IRIS² is an acronym for Infrastructure for Resilience, Interconnectivity and Security by Satellite.

“This cutting-edge constellation will protect our critical infrastructures, connect our most remote areas and increase Europe’s strategic autonomy. By partnering with the SpaceRISE consortium, we are demonstrating the power of public-private collaboration to drive innovation and deliver tangible benefits to all Europeans,” said Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy.

In September, FCC chair Jessica Rosenworcel said she wanted to see more competition to Elon Musk’s Starlink, which has already launched some 7,000 satellites since 2018.