The selection of the valuation method is one of the most important decisions in the valuation of large-budget investment projects such as the Wind Power Plant (WPP). The fact that traditional valuation methods do not take risks and uncertainties into account during the economic life of the investment and do not offer flexible solutions such as expansion, abandonment or postponement against possible situations in any period creates negative situations in applications. However, the reduction of cash flows, which is the most important factor for the future of the investment, by a fixed discount rate as long as the investment operates, has led investors to the valuation process with real options. Real options enable the risk and uncertainty in the investment to be handled by using various analytical methods or simulations through probability distribution. Considering that the investment started in June 2021, pre-feasibility reports prepared beforehand were used in this regard, and the project parameters were determined considering the market values. Firstly, Net Present Value (NPV) was obtained by using the Discounted Cash Flows (DNA) method, which is one of the traditional valuation methods, for this WPP, which has a 5 MW electricity generation capacity, a capacity factor of 35% and an economic life of 15 years in the province of Sinop. are the most commonly used methods in the literature. Secondly, in the real options valuation process, the Black-Scholes valuation method, one of the analytical methods, used the option value and the Extended Net Present Value (GNPV) to evaluate whether the project is viable or not. In order for the investment project to be viable, the NPV obtained by the valuation method used must yield positive results and the investor must have earned a profit at the end of its economic life. The project is not viable for an investment with a negative result. The aim of the valuation study for RES was that while the project could not get the applicable approval with the negative result with NPV, the project was able to get the applicable approval with the real options by incorporating the risk and uncertainty into the project. In this case, although the superiority of real options over traditional methods has been demonstrated, it has also been concluded that traditional methods should be replaced by real options in practice.