Streamlining the Identification and Selection of Generation Sites for Bilateral Transactions via Generation Expansion Planning Utilizing a Variety of Optimization Techniques

This paper presents an approach to address Bilateral transactions and their impact on meeting demand using Generation Expansion Planning. The study investigates the influence of Bilateral Transactions on Generation Expansion Planning and implements various optimization techniques, including Particle Swarm Optimization, Hybrid Particle Swarm Optimization, and New Particle Swarm Optimization. The Generation Expansion Planning models are established under diverse operational constraints, specifically as a Transmission Constrained Generation Expansion Planning problem. Within this context, the Generation Expansion process involves selecting the preferred unit types for both utility and Bilateral Transactions. The primary objective is to minimize the total system cost. The proposed framework is demonstrated using the IEEE-30 Bus system and IEEE 9 bus system.