Second Financing Installment for Higher Education Bundle under Public-Private Partnership (PPP) Programme by Invesis
The Higher Education Bundle 2 Public Private Partnership (PPP) project is a significant €380 million (ex VAT) infrastructure initiative delivering five new STEM buildings across multiple third-level campuses in Ireland. The project is part of the Department of Further and Higher Education, Research, Innovation and Science PPP programme.
Scope and Facilities
The total new space delivered by the entire Higher Education PPP programme (both bundles) is approximately 72,800m², supporting around 8,500 new student places. Bundle 2 alone includes five buildings with service commencement dates between Q3 2027 and Q2 2028.
At South East Technological University (SETU) Waterford (Cork Road Campus), the largest project in the bundle, a 12,894m² Engineering, Computing, and General Teaching Building is under construction. This building aims to accommodate over 3,400 students and features laboratories, lecture rooms, and studios to foster multidisciplinary study and new teaching methods.
At SETU Carlow (Kilkenny Road Campus), a 6,100m² Advanced Science Building is being built, hosting new science and health science labs, clinics, and a 40-meter indoor sprint track. This facility aims to support increased STEM student enrolment.
The other Bundle 2 buildings are at Atlantic Technological University’s Galway and Letterkenny campuses and Technological University of the Shannon’s Limerick campus.
Team Involved in Financing and Delivery
The PPP is managed by the National Development Finance Agency (NDFA) on behalf of the Department of Further and Higher Education, Research, Innovation and Science. The public-private partnership involves construction company BAM, responsible for design and build, with BAM FM providing long-term facilities management. Investment is led by Invesis, and the financing consortium includes Bank of Ireland committing €94 million towards the project’s lending.
Background
The programme was first announced under the Building on Recovery Capital Plan 2016–2021 and reaffirmed in the National Development Plan 2021–2030. Bundle 1, consisting of six buildings at other technological universities, was completed on time and budget with a construction cost of about €250 million (ex VAT).
This comprehensive PPP programme addresses urgent infrastructure needs and anticipated growth in student enrolments across Irish technological universities, enhancing STEM education facilities on multiple campuses nationwide.
The team members involved in the Higher Education Bundle 2 PPP contract are Aaron Boyle, Imelda Shiels, Audrey Hughes, Aisling Brennan, Sarah Barrett, Bob Hughes, and Sorcha Ryder. Their roles and responsibilities in the project have not been specified.
- The National Development Finance Agency (NDFA), managing the Higher Education Bundle 2 PPP project on behalf of the Department of Further and Higher Education, Research, Innovation and Science, is working in collaboration with the finance sector, as investment for the project is led by Invesis and includes €94 million commitment from Bank of Ireland.
- As part of the comprehensive Higher Education PPP programme that focuses on STEM education and self-development, the Advanced Science Building at SETU Carlow (Kilkenny Road Campus) will not only host new science and health science labs and clinics but also feature a 40-meter indoor sprint track, contributing significantly to business and education in Ireland.
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