PROJECT TITLE :

A Market-Based Transmission Planning for HVDC Grid—Case Study of the North Sea

ABSTRACT:

There's significant interest in building HVDC transmission to hold out transnational power exchange and deliver cheaper electricity from renewable energy sources that are located so much from the load centers. This paper presents a market-based approach to solve an extended-term TEP for meshed VSC-HVDC grids that connect regional markets. This is often in general a nonlinear, non-convex massive-scale optimization downside with high computational burden, partly because of the many combos of wind and load that become attainable. We have a tendency to developed a two-step iterative algorithm that first selects a subset of operating hours using a clustering technique, and then seeks to maximize the social welfare of all regions and minimize the investment capital of transmission infrastructure subject to technical and economic constraints. The outcome of the optimization is an optimal grid design with a topology and transmission capacities that results in congestion revenue paying off investment by the tip the project's economic lifetime. Approximations are created to permit an analytical resolution to the matter and demonstrate that an HVDC pricing mechanism will be in keeping with an AC counterpart. The model is used to investigate development of the offshore grid within the North Ocean. Simulation results are interpreted in economic terms and show the effectiveness of our proposed two-step approach.