Maximizing Profit of a Wind Genco Considering Geographical Diversity of Wind Farms

@article{Qiao2015MaximizingPO,
  title={Maximizing Profit of a Wind Genco Considering Geographical Diversity of Wind Farms},
  author={Songbo Qiao and Peng Wang and Tao Tao and G. B. Shrestha},
  journal={IEEE Transactions on Power Systems},
  year={2015},
  volume={30},
  pages={2207-2215}
}
Uncertainty and geographical diversity of wind speeds create risk for a wind power generation company (WGenco) to make the maximum profit from power market trading. A probabilistic approach is proposed to estimate the profit of a WGenco considering geographical diversity and uncertainty of wind speeds and market prices. The objective of the optimization problem is to assist a WGenco to do the optimal bidding in market trading in order to make the maximum profit under various market and wind… CONTINUE READING
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