to shape our future!
We are a group of people who inhabit, descend from or just love Sifnos.
We have created an innovative social entrepreneurial activity of citizens which welcomes all who wish to promote the economic and social enhancement of the island and its inhabitants.
We envision through a common effort, to take action on socially responsible development and promotion of the island as well as the long-term prosperity of the local community.
Our aim is the green development of the island through the exploitation of renewable energy sources, natural resources, products and services.
All our actions are governed by our values. Respect for the environment, humanity, the island and the local community.
We are committed to sustainable development.
Sifnos becomes the first energy-autonomous island of the Mediterranean.
We completed (7/2016) the technical study for the RES hybrid power station with pumped storage plant aiming at gradually reducing the consumption of imported oil in the island, in the most economically efficient way and we keep on going...
Sifnos stops using plastic bags
We continue its campaign to reduce the use of plastic bags, that started in June 2015 with the action "Do it like a Sifnian!" which was launched on 15.04.2016. Action supported by the Municipality, Associations, Institutions and many businesses on the island...
Producers support and promotion of local products of Sifnos
We study, in cooperation with local professional bodies, the creation of infrastructure and purchase equipment for the proper promotion of local products outside the island. The action is scheduled to start in October 2016.
The "Energy and Development Cooperative of Sifnos Coop. Ltd." is a Civil Cooperative.
A Civil Cooperative combines two key elements: It is firstly a business, but also has social and democratic operating standards and objectives laid down by Greek legislation and statutes.
We chose the form of the Civil Association because it has advantages that Social Cooperatives and Companies do not have. A Civil Cooperative cannot be bought out as can another type of company, however it can develop in the same way as other types of companies.
It is not limited by the laws of a Social Cooperative, which is authorized to distribute profits only under certain conditions. In Civil Cooperatives members themselves decide at the General Meeting, if and how to manage their earnings.
Any adult or legal entity, public or private, can become a member of Sifnos Island Cooperative (SIC) on the condition that the interested party meets the requirements of SIC’s constitution and the applicable Greek Legislation for becoming a member in a Civil Cooperative.
For the registration of a member, a written application is needed in which it will be declared that he/she accepts the provisions of SIC's constitution which is in accordance with Greek legislation.
Membership Registration fee and Cooperative shares value
As provisioned in SIC’s Constitution, applicants who wish to become members are required to remit to Sifnos Island Cooperative a one-time registration fee of 60 € and the value of one cooperative share with the possibility to acquire another five optional shares (in total 6 cooperative shares is the current limit provisioned by the applicable Greek legislation).
The value of each cooperative share is currently 700€. The registration fee and the total value of the cooperative shares that a membership applicant wishes to acquire are remitted to the Cooperative together with the membership application which is submitted to the Cooperative’s Governing Board for approval.
In the Cooperative’s General Assembly meetings each partner member has ONE vote only, irrespectively of the number of shares to be acquired.
What is the surplus value and how it affects the value of the cooperative share
At the beginning of each year the Governing Board will determine the amount of surplus value that will be valid for the entire year, according to the financial conditions and the existing, each time, net assets of the cooperative. Existing partners, wishing to acquire optional shares, will have to also pay the surplus value for each optional share they wish to acquire.
So, if for example the Cooperative acquired new facilities with value 40.000.000 € (value of the hybrid plant) and has 400 cooperative shares (400 X 700 € = € 280.000), the surplus value of the Cooperative is (40,000,000-280,000) 39.72 million €. In this case, the surplus value of each share is (39.720.000: 400) 99,300€ and the cost of every new share would be (share value + surplus value) 700 + 99,300= 100,000€.
The value of each cooperative share for the year 2020 is 700€.
FAQ
The governance of the cooperative is exercised by the General Assembly, the Governing Board and the Supervisory Board.
Giannis Porgiotis - President
Kostas Troullos - Vice President
Sofia Armeliniou - Secretary
Ronia Anastasiadou - Treasurer
Giannis Gyllis - Member
Michalis Soulis - Head
Giorgos Venios - Deputy
Vasilis Psathas - Member
Apostolos Dimopoulos - Representative
Sofia Katzilieri - Deputy Representative
The Sifnos Island Cooperative (SIC) was established in 2013 in order to meet needs that currently fail, especially in areas such as green energy, environmental protection, tourism, transport, optimized production, packaging and handling of local products.
Today, we already have more than 100 members, residents of the island and guests/friends.
Our goal is through a common effort, to take action on socially responsible development and promotion of the island as well as the long-term prosperity of the local community.