Spain Offers $1.14 Billion To Get Thirty Meter Telescope Moved To Canary Islands
Longtime Slashdot reader schwit1 shares a report from Behind the Black: In a new bid to get the Thirty Meter Telescope (TMT) to move from Hawaii, which has blocked its construction for more than a decade, the Spanish government has put together a $1.14 billion package that would not only pay for construction on the Canary Islands, but would finance an additional half century of operations. Tech…
A $1.14 billion offer from Spain aims to relocate the Thirty Meter Telescope (TMT) from Hawaii to the Canary Islands. This proposal, detailed by Behind the Black, would cover both construction costs and the subsequent 50-year operation of the observatory. The deal hinges on the International Observatory's selection of La Palma as the new site.
The financing comprises three main components: a 400 million euro (approximately $456 million USD) contribution from Spain's Ministry of Science, Innovation, and Universities, a 300 million euro (approximately $342 million USD) loan from the European Investment Bank (EIB), and a potential 300 million euro (approximately $342 million USD) stake from Spain's state development finance institution, Instituto de Credito Oficial (ICO).
Spain's export credit agency, Cesce, might offer additional coverage instruments, with the EIB also open to further support through intermediated financing or guarantees.
Written by urgent.news from Slashdot's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
