Title:	Stochastic optimization with applications in energy conversion processes
DNr:	NAISS 2024/22-726
Project Type:	NAISS Small Compute
Principal Investigator:	Niklas Lundström <niklas.lundstrom@umu.se>
Affiliation:	Umeå universitet
Duration:	2024-05-15 – 2025-06-01
Classification:	10105
Keywords:

Abstract

We construct management strategies for power plants (hydro, wind and combined) with continuously adjustable units. We estimate unknown variables via simple mathematical models of e.g. river flow and electricity price using historical data and forecasts. Our optimization approach rely on dynamic programming principles which demand comprehensive numerical calculations.