Coordinated operation of various energy sources has drawn the attention of many power producers worldwide. In this paper, a Concentrating Solar Power Plant (CSPP) along with a wind power station, a Compressed Air Energy Storage (CAES) unit, and a Demand Response Provider (DRP) constitute the considered Hybrid Power Producer (HPP). In this regard, this paper deals with the optimal participation of the mentioned HPP in the Day-Ahead (DA) and intraday electricity markets by benefiting from the joint configuration of all accessible resources.To attain risk-averse strategies in the suggested model, Conditional Value-at-Risk (CVaR) based on the -constraint technique is employed, while its efficiency is validated compared to the previously applied method to such problems. On the whole, the main contributions of this work lie in: 1) proposing a novel model for optimal behavior of a CSPP-based HPP in DA and intraday markets using a three-stage decision-making architecture, and 2) developing a bi-objective optimization framework to improve the functioning of the risk-constrained algorithm. Simulation results reveal that taking advantage of the CSPP in the intraday market and coordinated operation of all resources not only enhance the profitability of the system but also lessen the associated risk compared to the previous models.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.