Obtaining energy from renewable resources is a worldwide trend in the age of increasing energy demand. Hydropower has some potential in this field, especially for low-power locations. However, construction of such facilities requires high expenses, which is why some attempts at lowering the costs have been made, i.e., by proposing alternative solutions to the classic ones. This paper proposes a selection of options for small hydropower plants (SHP) that lower the investment costs while keeping up profitable operations. The proposed solutions concern simplifying the turbine’s and generator’s integration by installing them in dedicated prefabricated concrete modules. A rare but simple and cheap semi-Kaplan type of turbine with a non-classical spiral inflow is proposed. The turbine operates a permanent magnet (PM)-excited generator, converting the energy at a variable rotational speed. Thanks to this approach, it is possible to simplify the regulation system and eliminate expensive mechanical transmission. However, on the power grid side, a power electronic converter (PEC) must be coupled with the generator. The advantage of this solution compared to the classical ones is that the reliability of power electronics is much higher than that of mechanical systems. This paper presents modeling research on semi-Kaplan turbines’ series development, and a dedicated PM generator is presented as an example of a complete hydro unit with 50 kW power.