Stochastic optimization of hydroelectric dam operations on the Biobio River in Chile
Growing electricity demand in Chile has prompted the proposal of new hydropower projects. In addition to evaluating new projects to satisfy demand, a holistic assessment of alternatives as well as potential gains from improved utilization of current hydropower resources should be completed. This study aims to quantify potential gains from optimizing reservoir operations through a case study of the 2-dam system, consisting of the Pangue and Ralco dams, on the Biobio River. This analysis includes results from an optimization model built in GAMS (General Algebraic Modeling System) and two simulations built in MATLAB by the author to assess the efficacy of various operational schemes.
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