The Nam Theun 2 dam is an influential case of applying safeguards to mitigate social and environmental impacts from hydropower, being used as a model for large dams globally. However, these safeguards have produced mixed results. We examine the role of safeguards in hydropower, and how stakeholders have discussed its use. Based on a literature review and stakeholder interviews, we conduct a discourse analysis of narratives used to frame hydropower. We find four discourses being used for different purposes: Green Neoliberalism to legitimize, Ecological Modernization to operationalize, Green Radicalism to criticize, and Radical Incrementalism to repurpose hydropower. Whereas green radicalism in high-income countries challenges over-consumption, we find that green radicalism in low-income countries highlights environmental justice and shortcomings of conventional development models. We argue for a broader understanding of discourses to include Radical Incrementalism as one strategy for change of careful and considered actions over time.