From PC Mag: Europe has pledged to spend a whopping $11 billion on its own Starlink-like satellite network.
The European Union today officially signed the contract to build a sovereign and secure satellite internet system known as IRIS². It "not only addresses today's connectivity needs but also lays the groundwork for Europe's strategic autonomy in a digitalized world,” the EU says.
Although the EU has talked about IRIS² over the years, the project’s soaring cost—originally closer to $7 billion—has pushed back its development. According to the European Space Agency, total spending on the project will now reach €10.6 billion ($11.1 billion) over a 12-year contract. “This will be funded by the EU for €6 billion, over three financial perspectives, by ESA for €550 million and by the private sector for over €4 billion,” the space agency says.
The private sector companies include a consortium of European satellite providers—SES SA, Eutelsat, and Hispasat—which has been charged with developing IRIS². Despite the high costs, the EU said in a video that the satellite network—which is being designed to offer gigabit connectivity—will aid Europe in a time of uncertainty and volatility, bolstering its defenses.
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