Royal Melbourne Institute of Technology (RMIT) in Australia is launching a $98 million project to cut energy and water use as well as greenhouse gas emissions, University World News reported.

The University collaborated with international companies Siemens and Honeywell on the Sustainable Urban Precincts Project. Before the launch, the consortium identified opportunities for energy and water savings in 90 buildings across its city and suburban campuses.

The green project is expected to reduce electricity use within eight years by an estimated 239 million kilowatts leading to a 30,000 tonne reduction in greenhouse gas emissions. Water use will be cut by an estimated 68 million litres.

"RMIT will not only contribute to the global striving for sustainability," Margaret Gardner, vice chancellor of RMIT, told University World News. "We will also integrate this project into our education and research so that our students and staff can contribute to the process and learn from it."

In an effort to become greener, the school will upgrade its infrastructure to reduce electricity demand for heating, ventilation and air conditioning.

"Feasibility studies are under way to install co-generation and tri-generation technologies to allow it to generate part of its electricity demand on site," University World News reported.

A tri-generation plant is expected to reduce the university's greenhouse gas emission by 7,000 tonnes annually by "using the waste heat from electricity production in both heating and cooling," according to officials at Honeywell.

 Wayne Kent, Pacific General Manager of Honeywell Buildings Solutions, said the company's smart energy solutions for RMIT included "upgrades to its mechanical equipment, more energy efficient lighting and water harvesting technology."

The university may also gain an interactive learning and teaching platform for the benefit of students.

Siemens Australia CEO Jeff Connolly told University World News the project is a great step towards a sustainable future.

"This is a great example of energy efficiency," Connolly said. "Our team looked at all areas of the campus to see where our technology could maximize savings across water, lighting and the building management system, to create a highly efficient campus, both environmentally and economically," Connolly said.