Sustainable Operations: Risk Evolution and Diversification Strategies Throughout the Lifecycle of Wind Energy Public–Private Partnership Projects

As global energy demand grows and the focus on environmental sustainability intensifies, wind energy, as a form of clean energy, plays a pivotal role in the global energy transition. The public–private partnership (PPP) model, by integrating resources from both the public and private sectors, effectively propels the implementation of wind energy projects. However, these projects face a myriad of risks during both development and operation, making effective risk management crucial to project success. This paper, through literature analysis and System Dynamics methodology, develops a risk diversification indicator system that covers the entire project lifecycle. In addition, by combining the improved G1 weighting method and the entropy method, a dynamic risk model is established. Furthermore, through numerical simulation and sensitivity analysis, the risk levels of each subsystem and the key boundary risk factors are identified, and a set of highly adaptable risk diversification strategies is proposed. These strategies will enhance the resilience of wind energy PPP projects, foster trust among stakeholders, help participants effectively respond to and predict risk evolution, improve the project’s risk tolerance, and ensure its long-term sustainable operation.