Location: 323 Barrows Hall (ERG Reading Room)
Summary: We will present a new approach to wind energy development that simultaneously optimizes a wind farm and its financing for an improved economic analysis of wind energy projects. In our analysis we compare the energy yield of optimal wind energy projects with different turbine technologies under varying electricity price and wind speed scenarios. We perform extensive simulation studies and build statistical confidence intervals for the annual energy yield as well as the project's net present value at risk. The proposed approach eliminates the need for a trial-and-error financial feasibility study and, consequently, improves the harvest of the wind energy.
Alper Atamturk is a Professor of Industrial Engineering and Operations Research at the University of California, Berkeley. He received his Ph.D. from the Georgia Institute of Technology in 1998 with a major in Operations Research and minor in Computer Science. His current research interests are in optimization, integer programming, optimization under uncertainty with applications to renewable energy, health care, and defense. He serves on the editorial boards of Discrete Optimization, Operations Research, and Networks. Previously, he was on the editorial board of Management Science. He served on the organizing committees of IPCO 2010, MIP 2009, INFORMS 2008, MIP 2005, and as vice chair-integer programming of INFORMS Optimization Society. Dr. Atamturk is recently named a national security fellow by the US Department of Defense.