SES will also contribute of 7m per year into a fund to support and strengthen the Luxembourg space sector.
Satellite operator SES and the Luxembourg Government have announced that they have reached an agreement to renew SESs concession to operate satellites flying under Luxembourg jurisdiction for 20 years. The renewal is effective from January 2022, when the current concession expires, with an annual fee of 1m ($1.1m) from 2025 onwards.
As part of the agreement and starting from 2022, SES will also contribute a maximum of 7m ($7.7m) per year into a fund to support and strengthen the Luxembourg space sector as well as benefit the wider local economy.
SES has over 70 satellites in both Geostationary Orbit (GEO) and Medium Earth Orbit (MEO). SES Networks provides global managed data services in various sectors including telecommunications, maritime, aeronautical, and energy, as well as governments and institutions across the world.