Modelling and design of wind-solar hybrid generation projects in long-term energy auctions: a multi-objective optimisation approach

This study proposes an approach to help the bidding processes of hiring wind-photovoltaic farms in long-term energy auctions. The proposed approach aims to define an optimal solution to configure wind-photovoltaic farms based on mixture design of experiments and the L-p method, as well as an efficiency metric designed to achieve diversification and to identify the Pareto dominant optimal portfolio. The proposed method is simple and flexible for practical applications. Moreover, its associated goals of choosing the Pareto dominant optimal solutions are aligned with the goals of the electricity regulators responsible to manage the hiring process for a new generation. To validate the method, wind-solar photovoltaic generation configurations in three Brazilian cities are analysed and the results are compared with other methods previously proposed in the literature. The results show that the proposed method has more intuitive criteria for the investor and regulator, without reducing the quality of the information provided to decision making.