Optimal Allocation of FACTS Devices based on Multi-Objective Multi-Verse Optimizer Algorithm for Multi-Objective Power System Optimization Problems

A new multi-objective optimization algorithm based on a stochastic population technique known as the Multi-Objective Multi-Verse Optimizer (MOMVO) is proposed for the allocation of Flexible AC Transmission System (FACTS) devices in the power system network. The MOMVO determines the optimal setting and location of the FACTS controllers to minimize the active power losses, voltage deviation of the system, and the installation cost of the FACTS devices simultaneously. In this work, the Static VAR Compensator (SVC) and Thyristor-Controlled Series Compensator (TCSC) devices are used as FACTS controllers. Simulations have been performed on MATLAB with an additional MATPOWER package to evaluate the performance of the MOMVO algorithm on the standard IEEE 57 bus system. The results show that the MOMVO algorithm is efficient in determining the optimal settings and locations of the FACTS controllers that improve system performance.