Risk mitigation strategies in extensive cascade hydropower projects
Author(s): Loredana Oksuz and Josipa Brlek
Abstract: Extensive cascade hydropower projects play a pivotal role in meeting growing energy demands globally. However, their intricate multi-stage nature poses inherent risks that necessitate robust risk management strategies. This paper explores effective risk mitigation approaches tailored to extensive cascade hydropower projects.The research delves into the complexities and challenges intrinsic to these projects, emphasizing the multifaceted risks encompassing technical, environmental, financial, and social domains. By examining established risk assessment methodologies and frameworks, the study identifies key areas prone to risk and highlights the significance of comprehensive risk analysis in project development.Moreover, this paper evaluates a spectrum of risk mitigation strategies, encompassing design optimization, meticulous construction management, environmental impact reduction, financial risk hedging, and community engagement practices. Through case studies and best practices gleaned from successful projects worldwide, it elucidates practical approaches that have yielded positive outcomes in mitigating risks and enhancing project resilience.