A renewable generation portfolio: Maximizing delivery, minimizing risks

This paper presents a model for the optimal generation portfolio, specially designed to accommodate the characteristics of renewable generators and mitigate associated risks. The mathematical model is flexible enough to adjust to planner´s desired goals - from economy to sustainability - and provide regulatory solutions to induce such adjustments. A realistic case study with the Brazilian system illustrates the potentiality of the proposed approach and paves the way to an efficient and fair regulatory framework.