Wind energy is a form of renewable energy with the highest installed capacity. However, it is necessary to reduce the operation and maintenance costs and extend the lifetime of wind turbines to make wind energy more competitive. This paper presents a power-derating-based Fault-Tolerant Control (FTC) model in 2 MW three-bladed wind turbines implemented using the National Renewable Energy Laboratory’s (NREL) Fatigue, Aerodynamics, Structures, and Turbulence (FAST) wind turbine simulator. This control strategy is potentially supported by the health status of the gearbox, which was predicted by means of algorithms and quantified in an indicator denominated as a merge developed by SMARTIVE, a pioneering of in this idea. Fuzzy logic was employed in order to decide whether to down-regulate the output power or not, and to which level to adjust to the needs of the turbines. Simulation results demonstrated that a reduction in the power output resulted in a safer operation, since the stresses withstood by the blades and tower significantly decreased. Moreover, the results supported empirically that a diminution in the generator torque and speed was acheived, resulting in a drop in the gearbox bearing and oil temperatures. By implementing this power-derating FTC, the downtime due to failure stops could be controlled, and thus the power production noticeably grew. It has been estimated that more than 325,000 tons of CO2 could be avoided yearly if implemented globally.