Lender to Telesat Lightspeed
In September 2024, the Government of Canada announced a $2.14 billion investment with Telesat to complete and operate Telesat Lightspeed – one of the world’s most innovative satellite networks.
About Telesat Lightspeed
On September 13, 2024, the Government of Canada announced an agreement with Telesat to complete and operate Telesat Lightspeed – one of the world’s most innovative satellite networks. With a $2.14 billion investment from the federal government, Telesat Lightspeed will be Canada’s largest ever space program and will expand internet and 5G networks in communities across Canada, with affordable, high-speed broadband connectivity thanks to its low-Earth-orbit satellite network.
The project consists of the build and operation of a low-earth orbit satellite constellation comprised of 198 satellites that operate closer to the Earth than traditional geostationary satellites, providing high-speed and high-capacity bandwidth where alternative methods of connectivity are not possible or feasible.
About the role of CDEV
CDEV worked with the Department of Innovation, Science and Economic Development and the Department of Finance to structure the financing transaction. As part of the agreement, CDEV established a new subsidiary, that provides a loan to Telesat LEO Inc. to fund the construction of the project and hold and manage the Government of Canada’s loan and stock warrants to ensure Canadian taxpayers benefit from this investment.
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