The Spanish government has approved a request from satellite operator Hisdesat to bring forward €65.8 million of a €1 billion loan for the PAZ 2 spy satellite programme to cover payments due earlier than originally anticipated.
Published in Spain’s official gazette on 3 September, the adjustment increases the funding scheduled for 2026 from €179.8 million to €245.6 million, while reducing the allocation for 2029 by the same amount. The allocations of €182.9 million for 2027 and €213 million for 2028 will remain unchanged, while the 2029 allocation will fall to €206.3 million. The remaining €88 million will be distributed over three years from 2030 to 2032.
Hisdesat submitted its request on 15 April, arguing that the original funding schedule would create “significant timing differences” between the disbursement of funds and the payments being made under the programme. According to the government order, the discrepancy would cause “a distortion in its cash management capabilities.”
The PAZ 2 programme will deliver two synthetic aperture radar satellites to replace and expand the capabilities of Spain’s existing PAZ spacecraft, which has been operating since 2018. The two satellites are expected to be operational by 2031.
In July 2025, Airbus Defence and Space was selected as prime contractor to develop and manufacture the two satellites. The satellites will provide radar imagery with a resolution of better than 25 centimetres and cover up to 6.7 million square kilometres per satellite per day. These capabilities are intended primarily to support the Spanish Armed Forces, although the imagery will also be available for civilian and commercial applications.
