This work presents a multi-stage stochastic optimization model intended to improve investment decision-making for energy projects by incorporating uncertainty in contexts and changes in market pricing. In contrast to conventional deterministic models, which generally concentrate on a singular stage while neglecting the intricacies associated with policy and market uncertainties, our methodology incorporates Conditional Value at Risk as a pivotal risk metric. Across a span of five years, the model predicts how investments will be distributed among three types of electricity projects: Solar Farm, Wind Farm, and Hydro Plant. The stochastic model strategically allocates an investment of USD 16.5 million to achieve an expansion in the capacity of 925 megawatts and an expected portfolio return of USD 1,822,500. Notably, the model maintains a Conditional Value at Risk of USD 100,000 and an impressive Sharpe Ratio of 18.2250, demonstrating its ability to offer improved risk-adjusted returns. This study illustrates the effectiveness of stage stochastic optimization in enhancing diverse and robust renewable energy portfolios.

This paper addresses the critical issue of selecting the optimal solar tracking configuration for maximum energy generation, given the increasing demand for sustainable energy solutions in information and communication technology (ICT) facilities. The main goal is to thoroughly evaluate and compare seven different solar tracking configurations across technical, economic, and environmental dimensions: No Tracking (NT), Monthly Adjusted Horizontal Axis (MAHA), Weekly Adjusted Horizontal Axis (WAHA), Daily Adjusted Horizontal Axis (DAHA), Continuously Adjusted Horizontal Axis (CAHA), Continuously Adjusted Vertical Axis (CAVA), and Dual Axis with Continuous Adjustment (DACA). This study utilizes the HOMER simulation program to evaluate its energy and hydrogen production, emissions, and cost-effectiveness performance. Key findings indicate solar tracking improves energy efficiency, with optimal capacity factors of 18.2% and 17.7% for CAHA and DAHA configurations, respectively. Although load-following strategies increase reliability, there is a trade-off between capital costs and energy costs. In addition, an MCDM approach helps to consolidate the evaluation, resulting in CAVA being ranked as the most preferable option. The study contributes to informed decision-making for energy systems in ICT facilities by emphasizing the significance of considering a variety of criteria and evaluation techniques to address complex energy challenges.