Starlink, Elon Musk’s satellite internet service, has won a bid from Mexico’s state energy company, the Federal Electricity Commission (CFE), to provide services valid until December 2026, according to Reuters. The agreement aims to provide wide coverage satellite internet services to rural areas of Mexico. The contract is worth a minimum of 887.5 million Mexican pesos (about $50.5 million) and a maximum of 1,777 million Mexican pesos (about $101.3 million), as reported by the UK-based news agency.

Starlink, a service offered by SpaceX, utilizes a constellation of satellites in low Earth orbit to transmit an internet signal. This global network connects with users through antennas and exchanges high-frequency information with ground stations to deliver speeds ranging from 50 to 200 Mbps. The service is especially beneficial in remote regions where installing traditional internet infrastructure is challenging.

Latin America is one of Starlink’s expansion focuses. In recent months, the service has been introduced in countries such as Colombia, Mexico, Peru, and Chile, as well as selected cities in Brazil.

For individuals considering switching to Elon Musk’s service, it is important to note that the current offering requires a one-time payment for the hardware package necessary to connect to the low Earth orbit satellite constellation. The package includes a WiFi router, power supply, antenna, and connection cables. In Mexico, the price, including shipping, is 8,300 pesos. Additionally, customers must pay a monthly plan fee of 1,100 pesos. According to the coverage map provided on the official website, the service is available throughout Mexico.

According to a report from The Wall Street Journal (WSJ) published in September, Starlink’s profits are far from the projections made by SpaceX in 2015. The 2015 presentation, accessed by WSJ, projected that by 2022, Starlink would have 20 million subscribers and generate nearly $12 billion in revenue and $7 billion in operating income. However, the actual revenue for Starlink in 2022 was $1.4 billion, compared to $222 million in 2021.