Coordinated Planning of Flexibility Resources for HVDC‐Connected Renewable Base and Load Center: A CVaR‐Based Probabilistic Approach

ABSTRACT The geographic separation of renewable resources from major demand centers has promoted the use of high voltage direct current (HVDC) lines for long‐distance power transmission. The inherent volatility and uncertainty of renewable, coupled with load fluctuations and HVDC transmission constraint, pose significant challenges to system reliability. This paper proposes a conditional value‐at‐risk (CVaR)‐based coordinated planning framework for flexibility resources in HVDC‐interconnected systems. The work establishes a probabilistic reserve allocation framework that improves supply confidence level by quantifying the tail risk via CVaR theory. Furthermore, an operation‐constrained planning model is developed to jointly optimize storage deployment, thermal unit retrofits, and cross‐regional reserve allocation at both sending and receiving ends. Simulation is carried out with a real‐world case. The case study reveals the turning point of flexible resource investment. Numerical simulations on a real inter‐regional HVDC system show that, relative to deterministic methods, the proposed approach lowers system risk by 74.2% and 27.12% at the sending and receiving ends, respectively, while maintaining a renewable accommodation confidence above 97% and load supply reliability over 98%.