In recent years, the Brazilian electricity sector has seen a considerable reduction in hydroelectric production and an increase in dependence on the complementation of thermoelectric power plants to meet the energy demand. This issue has led to an increase in greenhouse gas emissions, which has intensified climate change and modified rainfall regimes in several regions of the country, as well as increased the cost of energy. The use of floating PV plants in coordinated operation with hydroelectric plants can establish a mutual compensation between these sources and replace a large portion of the energy that comes from thermal sources, thereby reducing the dependence on thermoelectric energy for hydropower complementation. Thus, this paper presents a procedure for technically and economically sizing floating PV plants for coordinated operation with hydroelectric plants. A case study focused on the hydroelectric plants of the Sao Francisco River basin, where there has been intense droughts and increased dependence on thermoelectric energy for hydropower complementation. The results of the optimized design show that a PV panel tilt of approximately 3 degrees can generate energy at the lowest cost (from R $298.00/MWh to R$312.00/MWh, depending on the geographical location of the FLOATING PV platform on the reservoir). From an energy perspective, the average energy gain generated by the hydroelectric plant after adding the floating PV generation was 76%, whereas the capacity factor increased by 17.3% on average. In terms of equivalent inflow, the PV source has a seasonal profile that compliments the natural inflow of the river. Overall, the proposed coordinated operation could replace much of the thermoelectric generation in Brazil.