Abstract
The importance of renewable energy cannot be overstated. Several nations are coming together in promoting green energy. One of the promotional schemes of the Indian government is the exchange of power under the inter state transmission system. This study deals with a decision-making problem for a large paper manufacturing company in India that exchanges its windmill energy under this scheme. The problem is a challenging combinatorial optimization problem with a quadratic objective function and intricate relationships among decision variables. It is different from the usual decision making problems that are encountered in the literature. In this article, we present a solution methodology and show that the solutions obtained are $$\epsilon$$ -optimal. Several live instances of the problem are solved and the results are presented and discussed. Both the formulation and the solution approach are innovative.
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