The aim of this work is to give an approach to the Performance-Oriented Model of Variable-Speed Wind turbines (VSWTs) equipped with permanent magnet synchronous generator (PMSG), and compare it to the component-oriented model. In the present work it will be analyzed how a change in the wind speed affects the power delivered from the generator by means of two approaches: firstly, the component-oriented model of the VSWT-based PMSG is given, i.e. the dynamic equations of the system are shown, and then, it is discussed how to obtain an equivalent transfer function of the whole system. A comparison between both approaches is discussed in this work.