Space Tech Innovation Limited (STI) which is Thaicom Public Company Limited (SET: THCOM) subsidiary has entered into a binding agreement with a global leading satellite operator company ‘Eutelsat’ to provide 50% capacity of Thaicom’s new satellite orbiting at 119.5 degrees East to the partnered French company.
Leasing 50% of the new satellite indicates Eutelsat will utilize 60 Gbps of the satellite’s full 120 Gbps capacity, exceeding the previous generation’s full capacity of 40 Gbps.
The partnership spans over 16 years, beginning in 2027, when the new satellite is scheduled to be launched and begin offering services.
The launch in 2027 is a new generation of satellite which is programmed with advanced technology known as “Software Defined High Throughput Satellite (SD-HTS).” This new technology improves on previous version in two ways. Not only does it enable more flexibility through instant reconfiguration to respond to the dynamic of each service area throughout Asia Pacific, but its cost-per-unit is three times lower than its predecessor.
According to Thaicom’s Chief Executive Officer Mr. Patompob Suwansiri: “I am very delighted that we have secured a long-term partnership with Eutelsat, one of the largest global satellite operators in the world.”
“This is a strategic partnership is for our new satellite project at the orbital slot of 119.5 degrees East as it not only provides a long-term and secure utilization of 50% of our new satellite, but more importantly, it will create synergies between the two organizations to capture new growth opportunities in the future.” He added.
Eutelsat’s payment will be recorded as a yearly recurring income by the time the satellite is in service, or as stated in 2027, for the 16-year commitment period. Mr. Suwansiri further noted that revenue from Eutelsat allows the company to break even in terms of EBITDA.
