With the Sifnos inhabitants being, besides consumers
also producers, profiting both ways from the investment.
Sifnos Island Cooperative (SIC), following a thorough research, is advancing towards realization of the energy autonomy plan for Sifnos, by submitting in September 2016 an application for a production permit to the Regulatory Energy Authority (RAE).
SIC’s project refers to a Hybrid Power Station consisting of a wind park and a pumped storage plant. It is foreseen to have the capacity to generate all the energy required in Sifnos through only Renewable Energy Sources (RES). All new facilities to be installed, will become a key objective of protecting the environment and the tourism product of the island, which is expected to increase.
According to the conducted study, the investment will be profitable from the first year of operation of the Hybrid Station and will continue to be profitable throughout, as the energy demand is secured.
The Hybrid Station will be owned by Sifnos Island Cooperative, in which all major decisions are made by the General Assembly, equal members of which are all partners with one vote each.
The Energy & Development Sifnos Island Cooperative Ltd. with distinctive title Sifnos Island Cooperative (SIC) was established in 16/11/2013 from 53 founding members (partners) and has since steadily expanded with over 100 members in two years.