In this work, we present a detailed model of a Renewable Energy Source (RES)-based Virtual Power Plant (VPP) that participates in Day-Ahead Market (DAM) and Intra-Day Market (IDM) with dispatchable and non-dispatchable RESs and flexible demand assets. We propose a demand model with bi-level flexibility which are associated with the market sessions plus an improved solar thermal plant model with piece-wise linear formulation of efficiency. A network-constrained unit commitment model is used by the VPP to submit DAM auctions and consequently participates in IDM to correct for deviations. Finally, we validate our model by assessing its operation on different weather conditions of uncertainty.
@article{arxiv.2112.02200,
title = {Optimal Participation of Heterogeneous, RES-based Virtual Power Plants in Energy Markets},
author = {Oluwaseun Oladimeji and Alvaro Ortega and Lukas Sigrist and Luis Rouco and Pedro Sanchez-Martin and Enrique Lobato},
journal= {arXiv preprint arXiv:2112.02200},
year = {2021}
}