Description: |
Julia code Stand_and_adapt_bend: This code solves a power system investment planning problem with a time horizon of 15 years. The deterministic version of the problem has 3 decision nodes: one refers to decisions to be taken at present time, one to decisions in 5 years time, and one to the decision in 10 years time. The stochastic version is obtained by modelling different possible scenarios for the future of the system in 5 and 10 years. At each node, we also compute the cost of operating the system for the following 5 years for given installed capacity. We consider a construction time of 5 years, so new assets installed at present time will only be available in 5 and 10 years, and new capacity installed in 5 years will only be available in 10 years. We model a set twelve of technologies: six thermal units, three storage units, and three renewable generation units. The investment problem can be solved with two algorithms: Algorithm 1 (Stand_Bend) and Algorithm 2 (Adapt_Bend). Both Algorithm Stand_Bend and Adapt_Bend are presented in ”Benders Decomposition with Adaptive Oracles for Large Scale Optimization”. |