A wind turbine is a complex system used to convert the kinetic energy of the wind into electrical energy. During the turbine design phase, a risk assessment is mandatory to reduce the machine downtime and the Operation & Maintenance cost and to ensure service continuity. This paper proposes a procedure based on Failure Modes, Effects, and Criticality Analysis to take into account every possible criticality that could lead to a turbine shutdown. Currently, a standard procedure to be applied for evaluation of the risk priority number threshold is still not available. Trying to fill this need, this paper proposes a new approach for the Risk Priority Number (RPN) prioritization based on a statistical analysis and compares the proposed method with the only three quantitative prioritization techniques found in literature. The proposed procedure was applied to the electrical and electronic components included in a Spanish 2 MW on-shore wind turbine.