Development of investment strategies for wind power generation

• Main Authors: Kongnam C., Nuchprayoon S.
• Format: Conference or Workshop Item
• Language: English
• Published: 2014
• Online Access: http://www.scopus.com/inward/record.url?eid=2-s2.0-49249096095&partnerID=40&md5=2d2f0e6e3ab75b108efc2519f55af4d8; http://cmuir.cmu.ac.th/handle/6653943832/1324
• Institution: Chiang Mai University

This paper develops investment strategies for wind power generation under the assumption that generation capacity and investment resources are flexible. The investment problem is formulated as a mixed-integer programming problem with the constraints specified as intervals and the net present value of generation profits as the objective. The optimum solutions are expressed in terms of number and size of each wind turbine model. The screening & ranking method is proposed to identify the most attractive investment plan among multiple optimum solutions. Sensitivity analysis is then performed to assess the impact of investment parameters. Numerical simulations have been tested with actual wind speed data and a simplified model of wind power project in the southern coast of Thailand. © 2007 IEEE.