Optimal wind reversible hydro offering strategies for midterm planning

A coordinated strategy between wind and reversible-hydro units for mid-term planning that reduces the imbalance of wind power and improves system efficiency is proposed. A stochastic mixed integer linear model is used, which maximizes the joint profit of wind and hydro units, where Conditional Value at Risk (CVaR) is used to model risk. The offering strategies studied are: i) separate wind and hydro pumping offers, where the units work separately without a physical connection and ii) a single wind and hydro pumping offer with a physical connection between them to store wind energy for future use. The effects of a coordinated wind-hydro strategy for mid-term planning are analyzed, considering CVaR and the future water value. The future water value in the reservoirs is analyzed hourly for a period of one week and two months, in two realistic case studies.