BENGALURU: In what’s unprecedented, the L1 quotation (lowest bid) by the consortium that won the 12 Earth Observation satellites project being implemented as a PPP by IN-SPACe , is Rs 0 (zero rupees). The consortium comprising Pixxel, PierSight, SatSure and Dhruva, which will bear the financial cost of the project, will invest more than Rs 1,2000 crore in the next four-five years.
Confirming this, IN-SPACe chairman Pawan Goenka told TOI in a one-on-one interaction: “Obviously this was a competitive bid and each of the bidders would have evaluated the value of giving the opportunity to build this constellation. In the judgment of the winning bidder, they decided that even if they don’t get any money from the govt, it is important for them to get this opportunity to develop it and therefore they see a good financial opportunity in this constellation.”
Terming it a very big endorsement of how the private sector sees the future of space economy in India, he said: “...for a consortium to come forward and commit to invest more than Rs 1,200 crores of their own money with a full expectation, obviously, that they will more than recover their investment over a period of time. So I think it’s very, very positive news that the winning bidder has bid only zero.”
As reported by TOI on Wednesday, the constellation of 12 satellites will feature a mix of sub-metre very high-resolution, wide-swath multispectral, synthetic aperture radar (SAR), and hyperspectral satellites, enabling applications such as precision agriculture, water quality monitoring, land-use mapping, environmental compliance, disaster assessment, maritime operations, national security and infrastructure development.
The project will be implemented through a special purpose vehicle (SPV). “We have a time limit of 90 days for signing the agreement starting yesterday. Hopefully we sign much before that. As per the RFP, the lead player must have at least 26% ownership and each consortium member at least 10%. It will be a legal entity formed with well-defined roles for each of the four members.”
SatSure CEO Prateep Basu said: “SatSure will be contributing two satellites in this consortium, with its novel optical and multi-spectral wide swath imager developed by its subsidiary KaleidEO. We’ll be commercialising our novel payload that provides high coverage at sub-meter spatial resolution. I believe this is a milestone not just for India’s space story, but for how EO technology can deliver meaningful, measurable value to users across different industries.”
PierSight will be producing at least two, if not three SAR satellites, while the remaining will be hyperspectral satellites from Pixxel’s stable. “SAR makes the constellation operational 24/7 in all weather conditions. Our role is to deliver radar‐first, analysis‐ready products with low latency, so agencies and enterprises get alerts and evidence, not just raw data,” PierSight CEO Gaurav Seth, said.
Dhruva Space CEO Sanjay Nekkanti said the project reflects growing confidence in India’s private space tech sector. The company plans to leverage its upcoming spacecraft manufacturing facility in Telangana to scale production and offer turnkey ground station infrastructure. In partnership with consortium members, Dhruva aims to build an end-to-end, sovereign EO ecosystem.
Goenka said IN-SPACe was very happy with the outcome, and added that when they started, the agency didn’t know whether there will be enough interest in the private sector to take on a project of this nature, because this is one of the largest investments made by the private sector in the space sector.
“...Finally, to have three people qualify for the commercial bid, each wanting the project very, very badly, gives us confidence that there is tremendous optimism about the space sector opportunities in the private sector… It is a validation of the whole space sector reform,” he said.
Confirming this, IN-SPACe chairman Pawan Goenka told TOI in a one-on-one interaction: “Obviously this was a competitive bid and each of the bidders would have evaluated the value of giving the opportunity to build this constellation. In the judgment of the winning bidder, they decided that even if they don’t get any money from the govt, it is important for them to get this opportunity to develop it and therefore they see a good financial opportunity in this constellation.”
Terming it a very big endorsement of how the private sector sees the future of space economy in India, he said: “...for a consortium to come forward and commit to invest more than Rs 1,200 crores of their own money with a full expectation, obviously, that they will more than recover their investment over a period of time. So I think it’s very, very positive news that the winning bidder has bid only zero.”
As reported by TOI on Wednesday, the constellation of 12 satellites will feature a mix of sub-metre very high-resolution, wide-swath multispectral, synthetic aperture radar (SAR), and hyperspectral satellites, enabling applications such as precision agriculture, water quality monitoring, land-use mapping, environmental compliance, disaster assessment, maritime operations, national security and infrastructure development.
The project will be implemented through a special purpose vehicle (SPV). “We have a time limit of 90 days for signing the agreement starting yesterday. Hopefully we sign much before that. As per the RFP, the lead player must have at least 26% ownership and each consortium member at least 10%. It will be a legal entity formed with well-defined roles for each of the four members.”
SatSure CEO Prateep Basu said: “SatSure will be contributing two satellites in this consortium, with its novel optical and multi-spectral wide swath imager developed by its subsidiary KaleidEO. We’ll be commercialising our novel payload that provides high coverage at sub-meter spatial resolution. I believe this is a milestone not just for India’s space story, but for how EO technology can deliver meaningful, measurable value to users across different industries.”
PierSight will be producing at least two, if not three SAR satellites, while the remaining will be hyperspectral satellites from Pixxel’s stable. “SAR makes the constellation operational 24/7 in all weather conditions. Our role is to deliver radar‐first, analysis‐ready products with low latency, so agencies and enterprises get alerts and evidence, not just raw data,” PierSight CEO Gaurav Seth, said.
Dhruva Space CEO Sanjay Nekkanti said the project reflects growing confidence in India’s private space tech sector. The company plans to leverage its upcoming spacecraft manufacturing facility in Telangana to scale production and offer turnkey ground station infrastructure. In partnership with consortium members, Dhruva aims to build an end-to-end, sovereign EO ecosystem.
Goenka said IN-SPACe was very happy with the outcome, and added that when they started, the agency didn’t know whether there will be enough interest in the private sector to take on a project of this nature, because this is one of the largest investments made by the private sector in the space sector.
“...Finally, to have three people qualify for the commercial bid, each wanting the project very, very badly, gives us confidence that there is tremendous optimism about the space sector opportunities in the private sector… It is a validation of the whole space sector reform,” he said.
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