Posted: Thu, Jun 3, 2010, 7:49 AM ET (1149 GMT)
Iridium has selected Thales Alenia Space to build its next generation of low Earth orbit communications satellites, the companies announced Wednesday. Thales will build 81 satellites, 72 for launch plus nine ground spares for the Iridium NEXT system. Total cost of the system, which will replace the company's existing constellation of satellites, is estimated to be $2.9 billion. Work on the satellites will begin immediately, with the first satellites planned for launch in the first quarter of 2015. Iridium has not announced launch plans yet for the system, but is reportedly in negotiations with SpaceX. Thales and Lockheed had been competing for the satellite order, with Thales winning in part because Coface, the French export credit agency, agreed to guarantee nearly all of a $1.8-billion credit facility that will be used to finance the project.
