Telesat still backing Lightspeed
July 25, 2023
By Chris Forrester
Comments from satellite builder Thales Group’s chief Executive Patrice Caine suggests that Canada-based Telesat’s potential contract for its $5 billion (€4.5bn) order for a fleet of 198 low Earth orbiting satellites is still very much active.
The comments come because Telesat has been slow to confirm any sort of order and has taken some considerable time to secure adequate funding over and above its own resources to commit to the project.
Thales was confirmed as the project’s Prime Contractor back in February 2021 and even that confirmation was slow to come because of Covid problems affecting the satellite industry. However, reportedly Thales has now removed Lightspeed on its list of likely orders.
On July 18th, Telesat confirmed that its LEO-3 test satellite was working in orbit and starting to transmit in Ka and V-band.
An investor discussion on Thales Q2 results heard Caine say it was his company’s clear impression that Telesat is continuing to work on its debt-financing issues for the project.
“If and when they announce the closing for the [financing for the] project, then we will be ready for that, of course. And we would not make any commitment that could not be backed by our supply chain, of course. There is no additional risk. The ball is really in their court, not in ours,” said Caine.