Multi-objective generation and transmission expansion planning: An economic and technical viewpoint

Abstract

This study considers the problem of generation expansion planning and transmission expansion planning (GTEP) from the profit point of view of generation and transmission companies. A new framework is proposed, that considers real power loss and voltage stability in the GTEP formulation. The whale optimization algorithm is intended to solve the given multi-objective formulation, and the proposed formulation’s efficiency is demonstrated on an IEEE 39-bus test system. The simulation results prove that the suggested optimization technique gives improved results in terms of higher benefits for generation and transmission companies, lower power loss, and higher voltage stability.