Thursday, August 12, 2021

Feds announce $1.44 billion for Telesat

The federal government is investing $1.44-billion in Telesat to provide broadband Internet to Canada’s rural and remote areas.

Telesat’s  Lightspeed global network is composed of 298 Low Earth Orbit (LEO) satellites operating 35 times closer to the earth than traditional telecommunications satellites.

The company has committed to $3.6 billion in capital expenditures in Canada, as well as $1.6 billion in Canadian operating expenses over the next 15 years.

Telesat Lightspeed will enable broadband Internet and LTE and 5G connectivity in Canada starting in 2024, ultimately connecting approximately 40,000 households in rural and remote regions, the company said.

Telesat also attracted $400-million in investment from the Quebec governmentearlier this year, and announced a further $109-million partnership with the government of Ontario in early August.