Hybrid Wind PV System Risk Assessment

Hybrid Wind–PV power plants are the future of energy generation, this type of system is getting more famous and more attractive in recent years due to its high potential in preserving natural resources, high energy and power generation efficiency, less pollution and stable power output. However, for investors to show more interest, it is important to go through the different aspects of the project including risk analysis. Hence, in this paper we will try to interpret most risks that may face the decision-making process of hybrid wind–solar PV power plants. Firstly, we will identify and classify the risk indicators and divide them to groups following the PESTEL tool. Secondly, we will use the strategic planning technique swot that provides assessment tools to analyze the internal and external environment of this project. Thirdly, to depict any uncertainty and fuzziness we will refer to GE-McKinsey Matrix as a strategy tool that offers a systematic approach for the multi business corporation to prioritize its investments among its business units. Following the identification of risks, specific measures and strategies will be proposed to assist the decision making and limit the risks impact. All along this paper we will use the ISO31000 guidelines as reference to provides principles, a framework, and a process for managing risk.