The "Sifnos project" is an investment scheme which aspires to become a model energy project for small areas with renewable energy possibilities, as is the case with islands which are usually off the mainland’s energy grid. According to the project, the island will be provided with energy, generated by a solar park (2MW) and a wind farm (4,5MW). The energy produced will be either transformed into electric power or stored in batteries afterwards, so that it can be used in other parts of the island or whenever there is a shortage.

The advantages entailed are important and multifaceted: it significantly reduces energy production costs, minimizes oil dependence, drops CO2 emissions and improves Greece’s RES penetration levels. The German Younicos has expressed interest since it has already developed similar infrastructure on an island of the Azores. The Sifnos project is expected to cost €10 million have a 20-year life span and spare the island from €138 million in fossil fuels which would be burnt for traditional power generation.