Embodiments are generally directed to techniques for operating a wind turbine of a wind power plant. An associated method comprises determining, using one or more sensors of the wind turbine, a first power production level of the wind turbine; determining, during an unconstrained operation of the wind turbine, one or more available power correction factors using the first power production level; determining, using one or more wind power parameters applied to a predefined model for estimating an available power of the wind turbine, an estimated available power value; adjusting the estimated available power value using the one or more available power correction factors to produce the available power value; and controlling, using the available power value, the wind turbine to produce a second power production level.