Abstract
The natural resources characteristics and current economic factors encourage investments in alternative sources of electric power generation in Brazil. Different technologies can compose a portfolio of generating plants with energetic synergism as a function of the seasonal diversity of their potential production. In such portfolios, it is sought to obtain financial gains by virtue of complementarity generation among candidates sources, under investor's pre-established risk control criteria. From this perspective, our study aims to present an optimization model - supported by genetic algorithms - to define the optimal financial resources allocation for composing renewable sources portfolio (wind, small hydro and biomass cogeneration), given a specified budget and risk-aversion criteria measured by means of the Conditional Value-at-Risk. Case studies involving the cited sources illustrate the application of the model and its potential for supporting analysis and decision making.
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