ABU DHABI: UAE-based satellite operator Space42 has secured a massive US$695.5 million financing facility to develop its upcoming geostationary satellites, Al Yah 4 and Al Yah 5. The deal is part of the company’s strategic push to advance secure, multi-orbit connectivity capabilities.
The Export Credit Agency (ECA)-backed facility was arranged by leading global banks Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis, with insurance cover provided by Bpifrance Assurance Export. The funding will support the development and launch of the new satellites, scheduled for 2027 and 2028.
Andrew Cole, Chief Financial Officer of Space42, said the program is tied to a 17-year, US$5.1 billion government contract starting in 2026. “The ECA financing optimises our funding costs while giving us the flexibility to execute our long-term growth agenda,” Cole stated.
The Al Yah 4 and Al Yah 5 satellites will be built with software-defined architecture, allowing them to adapt while in orbit. They will provide reconfigurable payloads that offer real-time adjustments in bandwidth, frequency, and coverage—an important feature for mission-critical operations across the Middle East, Africa, Europe, and Asia.
This upgrade is expected to not only enhance secure civil and defence communications but also to gradually replace the older Al Yah 1 and 2 satellites, which were launched in 2011 and 2012.
Space42’s investment underscores the growing importance of space infrastructure in supporting national security, digital development, and resilient communication systems. With this facility, the company is well-positioned to lead in the field of secure satellite connectivity across multiple continents.
