Since its foundation in 1989, HISPASAT has had a high strategic value both for the Spanish government and for satellite system users. Thanks to HISPASAT, Spain has a highly secure national satellite communications system on special frequency bands, able to satisfy communications needs in areas of geo-strategic interest.
HISPASAT is a key element in developing the Spanish telecommunications
and aerospace industry and generates important returns, both direct and
indirect, which increase the company's value. The operator also provides the technological resources to intensify communications with America, reinforcing cultural and informational links with the continent.
Given this strategic character, the Spanish public sector (Sociedad Estatal de Participaciones Industriales -SEPI (State Society of Industrial Holdings)- and Centro para el Desarrollo Tecnológico e Industrial -CDTI- (Centre for Technological and Industrial Development) formed part of the company's capital and Red Eléctrica Corporación, through Red Eléctrica Sistemas de Telecomunicaciones, S.A.U. (Restel), which gained control over the company on 3 October 2019.