The aim of this investigation is the development and implementation of a general and systematic procedure for the evaluation of the economic viability of planned installations of wind energy converters (WEC) for the purpose of electrical power production. The procedure is based on: the assessment of wind energy potential of an area (of interest); the limitations involved in selecting specific locations/sites for system installation in this area; the technical specification of a candidate WEC system; and the assessment of the economic viability of such electrical power production systems by applying suitable economic/financial analysis techniques. The proposed procedure was illustrated by applying it in the Thrace area of Greece, taking into consideration the national legislative frame for the exploitation of wind energy resources, and the associated subsidy provided for developing private enterprises with respect to the purchase and installation of the relevant technical equipment. The obtained computational results favor by comparison the installation of medium size WECs (150-500 kW) for the case of independent producers over the case of auto-producers.