The sizing of a small hydropower plant of the run-of-river type is very critical for the cost effectiveness of the investment. In the present work, a numerical method is used for the optimal sizing of such a plant that comprises two hydraulic turbines operating in parallel, which can be of different type and size in order to improve its efficiency. The study and analysis of the plant performance is conducted using a newly developed evaluation algorithm that simulates in detail the plant operation during the year and computes its production results and economic indices. A parametric study is performed first in order to quantify the impact of some important construction and operation factors. Next, a stochastic evolutionary algorithm is implemented for the optimization process. The examined optimization problem uses data of a specific site and is solved in the single and two-objective modes, considering, together with economic, some additional objectives, as maximization of the produced energy and the best exploitation of the water stream potential. Analyzing the results of various optimizations runs, it becomes possible to identify the most advantageous design alternatives to realize the project. It was found that the use of two turbines of different size can enhance sufficiently both the energy production of the plant and the economic results of the investment. Finally, the sensitivity of the plant performance to other external parameters can be easily studied with the present method, and some indicative results are given for different financial or hydrologic conditions. (c) 2007 Elsevier Ltd. All rights reserved.