Client
National Development Finance Agency (NDFA)
Location
Waterford, Limerick, Letterkenny, Galway and Carlow, Ireland
Higher Education Bundle 2
The Higher Education PPP Bundle 2 programme will add 34,700m2 of new academic space across five of Ireland's leading technological universities - from a STEM block in Galway to a health science facility in Carlow. Part of Project Ireland 2040, it represents a landmark investment in the country's higher education infrastructure and the communities these universities serve.
Financial Close
June 2025
Construction Period
2025 -2028
Concession Period
25 years
Handback
2053
Client
National Development Finance Agency (NDFA)
Location
Waterford, Limerick, Letterkenny, Galway and Carlow, Ireland
Sponsor/Investor
Invesis
Engineering Procurement and Construction
BAM Ireland
Operations and Maintenance
BAM FM Ireland
Capital Value
€380M
Working with the Irish Government to expand academic capacity across five technological universities
Ireland's technological universities have grown significantly in recent years, taking on expanded roles in teaching, research and regional economic development. Meeting this ambition required substantial new infrastructure - and a partner with the experience and commitment to deliver it.
In 2025, the National Development Finance Agency selected Invesis as sole investor under a 25-year PPP to design, build, finance and maintain new academic buildings at five institutions: South East Technological University Waterford, Technological University of the Shannon in Limerick, Atlantic Technological University Donegal, Atlantic Technological University Galway and South East Technological University Carlow. BAM Building is delivering construction and BAM FM Ireland will provide facilities management across the concession.
Each building has been designed by a dedicated architectural practice to reflect the distinct identity and academic needs of its institution. Handovers are phased between July 2027 and June 2028, with a 25-year concession running from each completion date.
Exceeding Ireland's energy standards with heat pumps, solar and innovative structural design across five campuses
Each of the five facilities has been designed to meet Nearly Zero Energy Building (NZEB) standards with an A3 BER rating - going well beyond the minimum requirements through a comprehensive sustainable design approach.
100% of heating and hot water is provided by heat pumps with a SCOP of 3.62, complemented by maximised PV panels, heat recovery technology and mixed-mode natural ventilation. Embodied carbon is capped at 500 KgCO2e/m2, measured using approved LCA software across all construction stages. An innovative Piekko structural system delivers a flat soffit solution across the buildings, enabling flexible space planning and high-quality learning environments.
A dedicated energy and commissioning consultant - a new addition to the Invesis PPP team - monitors design, construction and handover to ensure buildings perform to their energy targets from day one and maintain efficiency throughout the concession.
Creating inspiring, flexible learning environments that serve students and communities across Ireland
- Each building has been designed as a place for intellectual, creative and social activity - welcoming, non-institutional environments where students can thrive, with generous natural light, flexible spaces and strong connections to the surrounding campus.
- Designs were developed in close consultation with each institution through a three-year process, ensuring every facility reflects the academic identity and operational needs of its university.
- Water conservation is built in from the outset, with grey water recycling, flow restrictors, leak detection and water-economical equipment specified across all five buildings.
- Maximised daylight factors in teaching areas - achieving a 2% averaged daylight factor across all occupied rooms - reduce energy use while improving the learning environment for students and staff.
- The five facilities will significantly expand teaching and research capacity at universities serving communities across the south-east, west and north-west of Ireland.
