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This paper presents both application and comparison of the metaheuristic techniques to Generation Expansion Planning (GEP) problem. The Metaheuristic techniques such as the Genetic Algorithm, Differential Evolution, Evolutionary Programming, Evolutionary Strategy, Ant Colony Optimization, Particle Swarm Optimization, Tabu Search, Simulated Annealing, and Hybrid Approach are applied to solve GEP problem. The original GEP problem is modified using the proposed methods Virtual Mapping Procedure (VMP) and Penalty Factor Approach (PFA), to improve the efficiency of the metaheuristic techniques. Further, Intelligent Initial Population Generation (IIPG), is introduced in the solution techniques to reduce the computational time. The VMP, PFA, and IIPG are used in solving all the three test systems. The GEP problem considered synthetic test systems for 6-year, 14-year, and 24-year planning horizon having five types of candidate units. The results obtained by all these proposed techniques are compared and validated against conventional Dynamic Programming and the effectiveness of each proposed methods has also been illustrated in detail.

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