A Strategy for System Risk Mitigation Using FACTS Devices in a Wind Incorporated Competitive Power System

Electricity demand is sharply increasing with the growing population of human beings. Due to financial, social, and political barriers, there are lots difficulties when building new thermal power plants transmission lines. To solve this problem, renewable energy sources flexible AC systems (FACTS) can operate together in a network. Renewable provide additional grid, whereas FACTS devices increase limit existing It always desirable for an electrical network under stable secure conditions. The system runs at risk if any abnormality occurs generation, transmission, or distribution sections. This paper outlines strategy reducing risks via optimal operation wind farms devices. Here, thyristor-controlled series compensator (TCSC) unified flow controller (UPFC) have both been considered differing impact farm, as well combined effect farm on economy, were investigated work. Both regulated deregulated environments chosen verify proposed approach. Value (VaR) cumulative value (CVaR) calculations used evaluate risk. work was performed modified IEEE 14 bus 30-bus systems. A comparative study carried out using different optimization techniques, i.e., Artificial Gorilla Troops Optimizer Algorithm (AGTO), Honey Badger (HBA), Sequential Quadratic Programming (SQP) check integration terms operating cost.