In view of all the concerns associated with fossil fuels and energy demand it is appropriate to investigate the large number of abandoned small hydropower plants. In order to solve the difficulty implied, by a viability study on the refurbishment of a small hydropower plant, a series of simple equations has been developed based on the economic optimization of the different elements. These equations can also be used for completely new hydropower plants. The result of this study will allow us to obtain quite approximate costs for the refurbishment of old hydropower plants, or the construction of new ones. These data on costs will act as a reference to examine real possibilities of refurbishment through different tools of financial and economic analysis. Although the equations developed have used unitary prices referring to Spain, they will be applicable to other countries just changing those prices for those of the country, required. (C) 2009 Elsevier Ltd. All rights reserved.