Due to the large number of stakeholders involved in the construction of inter-regional hydropower projects, it is difficult to coordinate through administrative and economic measures in their respective regions, resulting in the long-term suspension of the projects. Based on the principles of fairness and efficiency, return and risk, the modified Shapley value model is used to analyze the cooperation strategies among multiple subjects in inter-regions. The proportion of revenue ultimately allocated to each participant is corrected. The uneven distribution of income during the construction of inter-regional hydropower projects is solved, and a fair return is achieved