Business · Companies · 3 hrs ago
Spain Brings Forward €65.8 Million for PAZ 2 Satellite Programme
Spain has approved bringing €65.8 million forward for the PAZ 2 satellite programme, after operator Hisdesat requested a change to the funding schedule.
The money is part of a €1 billion government loan for the programme.
The change raises the 2026 allocation from €179.8 million to €245.6 million and reduces the 2029 allocation by the same amount; funding for 2027 and 2028 stays unchanged.
Hisdesat said the original schedule did not line up with payments due under the programme and could disrupt its cash management.
PAZ 2 will provide two radar satellites to replace and expand Spain’s PAZ spacecraft, which has operated since 2018.
The new satellites are expected to be operational by 2031 and will mainly support Spain’s armed forces, with imagery also available for civilian and commercial use.
Spain has approved Hisdesat’s request to bring forward €65.8 million in funding for the PAZ 2 satellite programme.
The change shifts funding from 2029 to 2026 to better match payments under the programme.
PAZ 2 will deliver two radar satellites to replace and expand the capabilities of Spain’s existing PAZ spacecraft.
The new satellites are expected to be operational by 2031.
- Who
- The Spanish government approved the change at the request of satellite operator Hisdesat.
- What
- It brought forward €65.8 million from a €1 billion loan for the PAZ 2 programme.
- When
- The adjustment was published in Spain’s official gazette on 3 September. Hisdesat submitted its request on 15 April.
- Where
- Spain.
- Why
- Hisdesat said the original schedule would create timing differences between funding disbursements and programme payments.
This story does not have two clearly opposing sides.
Airbus Defence and Space was selected as prime contractor to develop and manufacture the two satellites.
Hisdesat submitted its request to bring forward €65.8 million.
The funding adjustment was published in Spain’s official gazette.
- Funding brought forward
- €65.8 million
- Total loan
- €1 billion
- 2026 allocation
- Increased from €179.8 million to €245.6 million
- 2029 allocation
- Reduced to €206.3 million
- Satellite count
- Two
- Expected operational date
- 2031
What people are saying
significant timing differences
a distortion in its cash management capabilities