Japanese banks to finance AzerSky satellite system

By: Nigar Orujova

Japanese banks will finance the AzerSky satellite system and establishment of the satellite’s ground infrastructure.

Azerbaijan’s satellite operator Azercosmos signed a loan agreement worth 100 million euros with the Japanese Sumitomo Mitsui Banking Corporation and Mizuho Bank , the operator reported on November 11.

The loan guarantees will be ensured by the French export credit agency COFACE.

In addition, as part of the agreement, French Airbus Defence and Space company will provide Azercosmos with a satellite system launched into orbit in June 2014.

The system, equipped with advanced French technologies, includes a ground control system, equipment to automatically process satellite images, a multi-mission station, mission equipment and related services.

The Azersky satellite was transferred to Azerbaijan based on an agreement signed between Azercosmos and the French Airbus Defence and Space in December, 2014.

Azersky has a broad range of applications, including defense and security, emergency response, the exploration of natural resources, maritime surveillance, seafaring, environmental protection, urban planning, cartography, tourism, agriculture and surveying land.

The satellite is capable of photographing 6 million square kilometers of the surface of the Earth, with resolutions of images up to 1.5 meters. The satellite will continue orbiting for 12 years.

The images obtained by Azersky could contribute to the effective management and use of land, simplification in creating digital maps, and more. Also, the low orbit satellite will be used for the monitoring, delimitation, and demarcation of Azerbaijan state borders.

Azercosmos is the first satellite operator in the Caucasus. Azerspace-1, the telecommunications satellite operated by Azercosmos, provides highly reliable broadband and broadcast solutions to its customers in Europe, Africa, Middle East, the Caucasus, and Central Asia.

The country’s next telecommunication satellite will be placed in orbit in 2017.


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