To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the (a) business case and (b) risk assessment for the decision to invest in OneWeb.
9 July 2020
OneWeb holds a position as a global leader in Low Earth Orbit technology. This investment secures that leading position and signals the Government’s ambition for the UK to be a pioneer in high-tech satellite technology.
Due diligence has shown that the investment is going to be commercially sound and is likely to make an economic return. Our investment provides a stable platform for OneWeb’s development and unlocks a range of future commercial and strategic opportunities for the UK.