The world's largest telescope is about to catch its first glimpse of outer space. The Gran Telescopio Canarias in Spain's Canary Islands will have its "first light" ceremony the evening of July 13, during which Prince Felipe, heir to the Spanish throne, will help focus the $175-million instrument on Polaris, the North Star. With 24 of 36 component mirrors yet to be installed in the 34.1-foot primary mirror, the monster telescope is still a work in progress but is expected to be ready for scientific quality observations in about one year.