Financing of the Second Higher Education Bundle under the Public-Private Partnership (PPP) Programme by Invesis
In a significant stride towards upgrading Ireland's higher education infrastructure, the Higher Education Bundle 2 Public Private Partnership (PPP) project has been launched. This ambitious initiative will deliver five new STEM-focused university buildings across five counties: Waterford, Carlow, Limerick, Donegal, and Galway.
The project, part of a government programme announced in 2017, is being spearheaded by Atlantic Technological University (ATU) Galway and Letterkenny Campuses, South East Technological University (SETU) Waterford and Carlow Campuses, and Technological University of the Shannon (TUS) Limerick Campus.
The team overseeing the project includes Aaron Boyle, Imelda Shiels, Audrey Hughes, Aisling Brennan, Sarah Barrett, Bob Hughes, and Sorcha Ryder.
The scope of the project encompasses 11 STEM facilities in total, with Bundle 2 comprising five major capital projects. Notable buildings include the Engineering, Computing, and General Teaching Building at SETU in Waterford, spanning 12,894 sqm and designed to accommodate over 3,400 students. Another key structure is the Advanced Science Building at SETU Carlow, boasting 6,100 sqm and featuring science labs, health science clinics, and athletics facilities. These buildings are multistory and equipped with modern laboratories, lecture rooms, studios, and amenities such as disabled access parking, cycle spaces, landscaping, and utility connections to support multidisciplinary teaching and research.
Invesis Coöperatie U.A. leads the PPP Bundle 2 project, with RPS, a Tetra Tech company, acting as Civil and Structural Advisors. Construction commenced in mid-2025, with significant capital works underway at the Waterford and Carlow campuses and other locations.
The total project cost for Bundle 2 is approximately €380 million. Financing for the project has been advised by Invesis, with debt facilities provided by AIB, contributing about €94 million as part of a broader banking consortium acting as facility agent.
In summary, Bundle 2 involves delivering five high-spec STEM facilities across five counties, costing around €380 million, with key contractors and advisors including Invesis Coöperatie U.A. and RPS. These projects aim to greatly enhance student capacity and infrastructure quality in Ireland’s technological universities. The contract, awarded under the Department of Further and Higher Education, Research, Innovation and Science PPP programme, covers the construction, maintenance, and operations of new facilities across multiple higher education campuses.
The Bundle 2 Public Private Partnership project, overseen by key personnel such as Aaron Boyle, Imelda Shiels, Audrey Hughes, and Sorcha Ryder, aims to enhance Ireland's higher education infrastructure by delivering five new STEM-focused university buildings. The finance for this project, totaling approximately €380 million, has been advised by Invesis, with a significant portion, around €94 million, provided by AIB through debt facilities.
This project forms part of a government programme announced in 2017 and is being spearheaded by various technological universities, including Atlantic Technological University Galway and Letterkenny Campuses, South East Technological University Waterford and Carlow Campuses, and Technological University of the Shannon Limerick Campus. Notable facilities under this business initiative include the Engineering, Computing, and General Teaching Building at SETU in Waterford and the Advanced Science Building at SETU Carlow, designed for multidisciplinary education and research in finance, business, and education-and-self-development.
%20Programme%20by%20Invesis){kind=link}