Higher Education Bundle 2

Waterford, Limerick, Letterkenny, Galway and Carlow, Ireland
Delivering five state-of-the-art learning facilities across three leading technological universities to support Ireland’s next generation of learners
26th June 2025 Financial Close
2025 -2028 Construction Period
25 years Concession Period
2053 Handback

The background

The Higher Education PPP Bundle 2 project represents a landmark investment in Ireland’s higher education infrastructure. Delivered under a Public-Private Partnership (PPP) model, it forms part of Project Ireland 2040, the Government’s long-term strategy to build a more inclusive, sustainable, and regionally balanced society. This initiative reflects Ireland’s commitment to investing in education to boost economic growth and regional development.

Through this project, nearly 35,000 m² of high-quality accommodation will be developed across five cutting-edge facilities for three of Ireland’s leading technological universities.

  • South East Technological University (SETU) Waterford: Engineering, computing, and general teaching block.
  • Technological University of the Shannon (TUS) Moylish, Limerick: Applied science and IT facilities.
  • Atlantic Technological University (ATU) Donegal, Letterkenny: Library, IT, and general teaching facilities.
  • Atlantic Technological University (ATU) Galway: Science, technology, engineering, and mathematics (STEM) block.
  • South East Technological University (SETU) Carlow: Health science facility.

These new facilities will significantly expand teaching, learning, and research capacity, enabling institutions to better serve students and staff.

As the sole equity provider, Invesis is responsible for the design, build, finance, and long-term maintenance of the asset. Over a 25-year concession period, we will ensure modern, well-maintained environments that respond to the evolving needs of Ireland’s next generation of learners.

Client

National Development Finance Agency (NDFA)

Capital Value

€380M

Sponsor/Investor

Invesis

Engineering, Procurement and Construction (EPC)

BAM Ireland

Operations and Maintenance (O&M)

BAM FM Ireland

Business value

This ambitious project is central to Ireland’s mission to equip future generations with the skills necessary for a dynamic, knowledge-driven economy. By expanding capacity in STEM and emerging technologies, HEB2 directly supports Ireland’s modern workforce requirements.

Beyond academic outcomes, the facilities are designed with flexibility and inclusivity in mind. Purpose-built laboratories, workshops, and studios will enhance practice-based learning, while adaptable layouts ensure readiness for hybrid and remote teaching methods. The buildings will also foster well-being, collaboration, and community engagement, providing progressive environments for teaching and research.

For Invesis, this is our ninth PPP project in Ireland, following successful delivery of the Courts PPP, two School Bundle programmes, and five major road projects. This long-standing partnership with the Irish Government reflects our commitment to delivering essential infrastructure and contributing to Ireland’s long-term socio-economic growth.

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Key features

  • Purpose-built facilities to strengthen STEM education and research.
  • Designed for Nearly Zero Energy Building (“NZEB”) compliance, ensuring sustainability and energy efficiency.