Abstract Analysis of possible risks in the process of implementing a specific project has been carried out, measures to reduce their negative impact on the project have been developed and proposed. The object of study is a wind energy project, namely a wind farm working as part of the national energy system. The implementation of the project is related to both external and internal risk factors that are characteristic to such projects in the real economy sector under the current conditions. Such risks have been classified and the fractional structure of risk adjustment has been analysed taking into account the properties of the particular wind energy project, which consists of three main components. A description has been given of the innovative technology selected for project implementation, power generation using wind, which is used to limit the negative influence of the above-mentioned risks. The current strategic management tools, such as SWOT analysis and McKinsey matrix, which are useful for the identification of project risks, have been examined. For the wind energy project that is being implemented, the project dot location coordinates were determined in the McKinsey matrix on axes: Advantages against competitors and Market attractiveness. Also, a sector characterising the project development prospects was established to be subsequently used as a tool for risk identification. Following the identification of risks, specific measures of state support and special project management measures were developed and proposed to be implemented with the aim of limiting the negative influence of the possible project risks.