This paper presents a simulation framework for modeling and analysis of small hydropower plants (SHPPs), focusing on the interaction between hydraulic, mechanical, and electrical subsystems. The proposed model integrates a hydraulic turbine, servo-drive actuator, governor control system, and an induction generator described by both simplified and complete dynamic models. Special attention is given to transient electromagnetic phenomena during start-up, grid connection, and power control. A comparative analysis shows that simplified models fail to capture fast transients such as current peaks and torque oscillations. The model is validated using real operational data, confirming its accuracy in both steady-state and transient conditions. Furthermore, a sensitivity analysis demonstrates the robustness of the proposed model with respect to variations of key hydromechanical parameters. The results highlight the importance of detailed modeling for proper design and dimensioning of electrical and mechanical components in SHPP systems.