Maximum profit cogeneration plant - MPCP: system modeling, optimization problem formulation, and solution

The well-known CGAM optimization problem was formulated to serve as a benchmark for comparison of different thermoeconomic methodologies. The CGAM cogeneration plant produced 30 MW of power and 14 kg/s of saturated vapor at 20 bar. The objective function was the total cost rate of the system, related to thermodynamic variables and installation costs. Because the CGAM problem originates from an academic viewpoint, its models do not reflect the industrial reality of energy systems, and do not conform to important operational and technological restrictions. The objective of this work is to propos...