Selection of optimal smal hydropower project: Risk and uncerta inty analys is using fuzzy-M.C.D.M.

Selecting the viable small hydro project and its parameters in which to invest is a critical task involving different factors as they are unique and site specific. Small hydro projects (SHP) are emerging as solution for sustainable, eco-friendly, long term and cost-effective water or renewable energy resource for future. Hence such decision making can be viewed as a multi-criteria optimization problem with correlating criteria and alternatives due to various project related risk and uncertainties. This task should take into consideration several conflicting aspects because of the increasing complexity of the socio-political, technological, environmental and economic factors. Traditional single criteria decision-making approaches cannot handle the complexity of such systems. Multi-criteria optimization or MCDA or MCDM methods may provide a better and flexible tool. This paper aims to evaluate applicability of multi-criteria optimization to decision makers during the small hydropower project planning and development. To the best of the author's knowledge this novel approach for application of fuzzy multi-criteria optimization in viable small hydropower project selection are absent in renewable energy or fluid mechanics literature due to its assessment complexity.