electronics

Article
Technical and Economic Assessment of VSC-HVDC
Transmission Model: A Case Study of South-Western
Region in Pakistan
Mehr Gul 1,2, * , Nengling Tai 1 , Wentao Huang 1 , Muhammad Haroon Nadeem 1 ,
Muhammad Ahmad 1 and Moduo Yu 1
1 School of Electronic Information and Electrical Engineering, Shanghai Jiao Tong University,
Shanghai 200240, China; nltai@sjtu.edu.cn (N.T.); hwt8989@sjtu.edu.cn (W.H.);
haroon.nadeem@sjtu.edu.cn (M.H.N.); ahmad1406@sjtu.edu.cn (M.A.); m18817519493@163.com (M.Y.)
2 Department of Electrical Engineering, Balochistan University of Information Technology, Engineering and
Management Sciences (BUITEMS), Quetta 87300, Pakistan
* Correspondence: emehrgul@sjtu.edu.cn; Tel.: +86-13262736005




Received: 10 October 2019; Accepted: 5 November 2019; Published: 7 November 2019


Abstract: The southwestern part of Pakistan is still not connected to the national grid, despite its
abundance in renewable energy resources. However, this area becomes more important for energy
projects due to the development of the deep-sea Gwadar port and the China Pakistan Economic
Corridor (CPEC). In this paper, a voltage source converter (VSC) based high voltage DC (HVDC)
transmission model is proposed to link this area to the national gird. A two-terminal VSC-HVDC
model is used as a case study, in which a two-level converter with standard double-loop control is
employed. The proposed model has a capacity of transferring bulk power of 3500 MW at 350 kV
from Gwadar to Matiari. Furthermore, the discounted cash flow analysis of VSC-HVDC against the
HVAC system shows that the proposed system is economically sustainable. The outcomes of this
study reveal that the implementation of this project can bring economic stability and energy security
in the southwestern region.

Keywords: technical assessment; voltage source converter; power transmission; discounted cash
flow; energy security

1. Introduction
The demand for power supply in Pakistan is growing exponentially in domestic and industrial
sectors [1], and thus, the country has faced severe energy crises in recent times. The two primary
sources for electricity production in Pakistan, i.e., hydropower and fossil fuels, have been adopted
for long, but cannot meet the increasing demands of the country. Currently, Pakistan has been taking
initiatives to utilize renewable energy to bridge the gap between demand and supply effectively.
However, the weak, old transmission system is still a significant hindrance to uphold the rapidity with
growing energy production supply [2,3].
Pakistan has five provinces, namely, Gilgit Baltistan, Khyber Pakhtunkhwa (KPK), Sindh,
Balochistan, and Punjab. Among these, Balochistan province with 347,190 km2 area is the largest one,
consisting of approximately 45% land of the country. Additionally, the tremendous renewable energy
resources, like wind and solar, are available to their vast extent and potential in the southwestern area
of Balochistan province. Monthly mean solar radiations ranged from 153.61–281.94 W/m2 throughout
the year, while the total wind power generation capacity in this area is about to 146 GW [4,5].
In this region, the population density is comparatively low due to the scarcity of natural resources,
and only 6% of the population is residing in this region. Possibly, the one most haunting reason for

Electronics 2019, 8, 1305; doi:10.3390/electronics8111305 www.mdpi.com/journal/electronics

Electronics 2019, 8, 1305 2 of 14

neglecting this high potential energy-producing area is its unstable and uncertain bordered geographical
location that is far away from the main grid. Keeping in view the power production potential of this
area along with the rapidly increasing energy crisis in Pakistan, it is indispensable to discover cheap
and high potential renewable energy sources like wind power. Whereas Punjab and Sindh provinces
are the most populated areas of the country, approximately holding 76% of the total population [6].
Moreover, to date, there is no available transmission line from these areas to the main national
grid. Figure 1 shows the existing transmission network in different regions of the country [7].
Despite substantial available power potential, still, Pakistan is depended on importing the power from
Iran to provide electricity in southwestern areas. Due to the lack of power generation projects and no
available transmission network, these areas are still not connected with the main national gird.
On the other hand, China Pakistan Economic Corridor (CPEC) projects and Saudi Arabia
investment in the oil sector this area becomes more important for the development of new power
projects and the setup of a new transmission line. Exploiting these energy resources not only helps the
CPEC and other future projects, but also fulfills the power demand of the country. Renewable energy
department authority and Pakistan national transmission and dispatch company have evaluated that
the transmission network of the country is overloaded. Therefore, new transmission lines are required
to meet the power supply demand across the country.
Generally, power is transmitted from the generation side to the main grid. There are two possible
ways to transmit the power to the national grid, i.e., high voltage alternating current (HVAC) and high
voltage direct current (HVDC). HVDC is proposed to be suitable for transmitting bulk power over long
distances in comparison to HVAC. HVDC transmission lines based on voltage source converters (VSC)
or line commutated converters (LCC) both are considered as a viable alternative than HVAC [8–10].
Furthermore, due to the advancement of technologies and cost comparison over a long distance, the
HVDC systems are considered economically sustainable. Detailed analysis includes the technical and
economic comparison of HVDC and HVAC systems that are elaborated in [8].
Additionally, the recent development in DC circuit breaker technologies and reliable protection
schemes makes the VSC-HVDC transmission links more promising [11,12]. The concept of a hybrid
DC circuit breaker with fault limiting capacity for VSC-HVDC transmission network is proposed
in [12], which can rapidly isolate the fault within permissible limits of fault current. Likewise,
a novel multi-terminal HVDC protection scheme based on artificial neural network (ANN) and
high-frequency components from fault current signals is utilized to detect, classify, and locate overhead
line faults accurately. This includes high impedance faults without compromising the accuracy of fault
location [13,14]. Based on the consecutive data window method (CDWM), another protection scheme
is introduced for the VSC-HVDC transmission system, which is capable of prompt fault detection
and isolation [15,16]. Furthermore, a new theory for locating line fault in the transmission system
is presented in [17], which has thoroughly presented the theoretical aspects, and simulations for the
line faults. With ongoing improvements in protection technology, the authors believe this will be
sufficiently supportive of the proposed transmission line.
There are various factors, such as technical considerations, economic aspects, and legal
requirements, that are critical in the planning of new transmission lines. A technical consideration
transmission line based on VSC-HVDC and economic aspects are presented in this paper. It is hoped
that the outcomes of this study can help to understand the importance of the new proposed VSC-HVDC
based transmission line in this area and provide a base for the further academic research in this field.
Electronics 2019, 8, 1305 3 of 14
Electronics 2019, 8, x FOR PEER REVIEW 3 of 15

Figure
Figure 1.
1. Transmission network in
Transmission network in Pakistan
Pakistan (dotted
(dotted lines
lines indicate
indicate the
the existing
existing networks).
networks).

2. Overview of HVDC
There are variousSystems
factors, such as technical considerations, economic aspects, and legal
requirements, that are critical
AC-based transmission networksin the planning of new transmission
were commonly used in the lines. A technical
earlier consideration
era of power system
transmission line
development, based
while DConnetworks
VSC-HVDC were and economic
rarely aspects
practiced dueare
topresented in this paper.
lack of technologies atItthat
is hoped
time.
that the outcomes of this study can help to understand the importance of the new proposed
Nevertheless, after 1945, the solid-state power electronics components penetrated into the power sector, VSC-
HVDC
and HVDCbased
gottransmission
researchers’ line in this
attention area
and andaprovide
made a base
comeback. for the
HVDC further academic
transmission networkresearch in
consists of
this field.
two types of technologies, depending upon the control of converters, i.e., voltage source converter
(VSCs) or line commutated converters (LCCs). In the initial stages, LCC-HVDC networks were
2. Overview of HVDC Systems
commonly used, but with time, HVDC transmission-related technologies became more efficient and
mature, which also
AC-based provided anetworks
transmission window for the development
were commonly used and implementation
in the earlier eraof VSC-HVDC based
of power system
transmission
development,networks
while DC[10,18–20].
networks Somewere HVDC transmission
rarely practiced duenetworks
to lack ofbased on both technologies
technologies at that time.
were installed in
Nevertheless, different
after regions
1945, the of the world
solid-state powerand are summarized
electronics componentsin Table 1, and other
penetrated intoprojects are
the power
discussed
sector, andinHVDC
[21–24].got researchers’ attention and made a comeback. HVDC transmission network
consists of two types of technologies, depending upon the control of converters, i.e., voltage source
Table 1. List of HVDC projects in different countries.
converter (VSCs) or line commutated converters (LCCs). In the initial stages, LCC-HVDC networks
were commonly used,
Project Name
but with time, HVDC
Year
transmission-related
Voltage Power technologies
Distance
Type
became more efficient
Supplier
(kV) (MW) (km)
and mature, which also provided a window for the development and implementation of VSC-HVDC
Three Gorges–Shanghai (China) 2006 500 3000 1060 Thy ABB
based transmission networks [10,18–20].
Estlink (Estonia–Finland) 2006 Some
150 HVDC 350 transmission
105 IGBnetworks based
ABB on both
NorNed
technologies (Netherland–Norway)
were installed in different 2008regions450 of the700 580 are summarized
world and Thy ABB
in Table 1, and
Yunnan–Guangdong (China) 2010 800 5000 1418 Thy Siemens
other projects areSAPEIdiscussed
(Italy) in [21–24].2011 500 1000 435 Thy ABB
BorWin1 (Germany) 2012 150 400 200 IGB ABB
Mundra–Haryana (India) 2012 500 2500 960 Thy Siemens
Zhoushan (China) Table 1. List 2014
of HVDC projects
200 in400different134
countries.
IGB NA
AL-link (Aland–Finland) 2015 80 10 158 IGB ABB
Western Alberta Transmission Line (Canada) Voltage500
2015 Power
1000 Distance
350 Thy NA
Project Name
NordBalt (Sweden–Lithuania) Year 2015 300 700 450 IGB Type Supplier
ABB
Skagerrak 4 (Denmark Norway) 2015
(kV) 500 (MW) 700
(km) IGB
244 Nexans, ABB
Three Gorges–Shanghai
Jinsha River II–East China (China) 2016 800 6400 NA Thy NA
DolWin2 (Germany) 2006 2016 500 320 3000
900 1351060 IGB Thy ABB ABB
(China)
SydVastlanken (Sweden) 2016 300 720 260 IGB Alstom
Estlink Western
(Estonia–Finland)
HVDC Link (UK) 2006 2017 150 600 350
2200 422 105 Thy IGB ABB
Prysmain Group, Siemens
NorNed Xinjiang–Anhui
(Netherland– (China) 2017 1100 10,000 3333 Thy NA
2008 450 700 580 Thy ABB
Norway)
Yunnan–Guangdong
After many years (China)
of research2010 800
and development 5000 the VSC1418
process, Thytransmission
based HVDC Siemens
systems
SAPEI (Italy) 2011 500 1000 435 Thy ABB
became an attractive option for bulk power transmitting over long distance. Recently, VSC-HVDC
BorWin1 (Germany) 2012 150 400 200 IGB ABB
is being preferred to LCC-HVDC, because VSCs offer the independent control of both reactive and
Mundra–Haryana (India) 2012 500 2500 960 Thy Siemens
active power. Also, VSCs do not need external sources to push off the switches, while LCCs needed the
Zhoushan (China) 2014 200 400 134 IGB NA
AL-link (Aland–Finland) 2015 80 10 158 IGB ABB
Electronics 2019, 8, 1305 4 of 14

external mechanical switches. VSC-HVDC based networks offer many advantages over LCC-HVDC,
and some of them are summarized in Table 2 [25,26].

Table 2. Comparison of VSC-HVDC and LCC-HVDC.

Operation/Function VSC-HVDC LCC-HVDC

No external mechanical switches
Cannot change the current direction,
Direction reversal needed, current direction change is
need external switches
possible in the converter
Offer fault ride-through capability, No
Possibly commutation failure; short
AC influences AC disturbances, a less loss of active
circuit of the HVDC grid
power transfer
Consumes 50 percent of reactive power
Allows active and reactive
AC Voltage Control (VAR), needed AC filters for VAR
power control
compensation
Electrically can be connected to weak or Connection limited to medium and high
AC connections
black AC circuits capacity circuits.
Multi-Terminals Options No limitations Limited to 3-terminals
Delivery period 2 years 3 years

3. Deployment of Proposed Transmission Line

The proposed transmission line is based on VSC-HVDC, which can stretch approximately 815 km
from Gwadar, Balochistan, to Matiari, Sindh. A major part of the line will be in Balochistan province
for up to about 600 km, and the remaining portion will be in Sindh province. The Pakistan first-ever
LCC-HVDC transmission line project (under the vision of CPEC) from Matiari to Lahore is under
construction and can be operational at the start of 2021. This HVDC line is 878 km long, will be capable
of bulk power transmission of about 4000 MW at 660 kV, generated from various power projects in the
south part to the most populated area of Punjab province [27].
Gwadar is one of the busiest sea routes in between Southwest and South Asia on the Arabian Sea
shore due to its geographical, commercial, and strategically significant deep-sea port. It covers the
35% of global sea-trade, including 45% of China’s oil trade. It is being bordered with Iran, which has
broadened the opportunities to reach the overland business activities. With this recent development of
Gwadar Sea Port under CPEC projects, it has become the hub of global economic activities. Recently,
the memorandum of agreement [MOU] between Saudi Arabia and Pakistan has been signed to set up
a joint working group for the petrochemical complex and the state-of-the-art oil refinery in Gwadar
city. Moreover, Iran has made an agreement with Pakistan to build an oil refinery, whereas Qatar also
has shown its interest in establishing a food storage system at Gwadar port. This initiative would help
boost the economic and energy development of the region [28–30].
Owing to substantial renewable energy resources, development of port and oil refinery, and
other economic activities, the southwestern region should be connected to the national grid, which
can provide the power security and demolish the power shortages of the country. The proposed
VSC-HVDC transmission line is capable of dispatching bulk power approximately 3500 MW at 350 kV
from Gwadar to Matiari. The location of the proposed bipolar HVDC transmission line is shown in
Figure 2. The whole area is easily accessible for all types of vehicles through Makran coastal high way
in Balochistan and the national high way in the Sindh part. Most of the line will pass through the rural
areas and have a negligible effect on the social instability.
It is worth mentioning here that this kind of research is hardly carried out before for this area.
It is hoped that the implementation of this project can be a game-changer in the region, provides
employment opportunities, infrastructure development, increases land revenue, and uplifts the
socio-economic. Besides, the access amount of electricity that can be available in the national grid
ensures the energy security, which can also result in industrial development and expansion of industry
in the country.
 It is worth mentioning here that this kind of research is hardly carried out before for this area. It
is hoped that the implementation of this project can be a game-changer in the region, provides
employment opportunities, infrastructure development, increases land revenue, and uplifts the
socio-economic. Besides, the access amount of electricity that can be available in the national grid
ensures the energy
Electronics 2019, 8, 1305 security, which can also result in industrial development and expansion 5 of of
14
industry in the country.

Iran

India
Matiari
Gwadar

Figure
Figure 2.
2. Proposed
Proposed HVDC
HVDC transmission
transmission line
line for
for the
the South-western
South-western part
part of
of Pakistan.
Pakistan.

4. VSC-HVDC
4. VSC-HVDC System
System Theory
Theory and
and Simulation
Simulation
Different types
Different typesofofvoltage source
voltage converters
source are used
converters are for HVDC
used for transmission; the most commonly
HVDC transmission; the most
used in thisused
commonly regard
in are
thisa regard
two-levelareconverter,
a two-levelthree-level
converter,neutral-point
three-level clamped (NPC)clamped
neutral-point converter, and
(NPC)
modular multilevel converter (MMC) [31]. In this paper, a case study with results
converter, and modular multilevel converter (MMC) [31]. In this paper, a case study with results is is incorporated
using MATLAB
incorporated simulation
using MATLAB to simulation
understandto the significate the
understand of the VSC-HVDC
significate of thesystem. In thissystem.
VSC-HVDC context,Ina
two-terminal
this context, a VSC-HVDC
two-terminalmodel is used,model
VSC-HVDC in which a two-level
is used, in whichconverter with
a two-level standard
converter double-loop
with standard
control is employed. Where terminal-I is controlling DC-voltage and active power, while
double-loop control is employed. Where terminal-I is controlling DC-voltage and active power, while terminal-II is
controlling is
terminal-II active and reactive
controlling activepower.
and reactive power.

4.1. Converter
4.1. Converter Control
Control
There are
There areseveral
severalapproaches
approachestotocontrol thethe
control converter; out out
converter; of many, vectorvector
of many, control and direct
control and power
direct
control are commonly used ones. In vector control, voltage and current vectors in reference
power control are commonly used ones. In vector control, voltage and current vectors in reference (rotating)
frame are transformed
(rotating) frame are into a two-dimensional
transformed stationary frame stationary
into a two-dimensional using Clark’s transformation
frame [32].
using Clark’s
The AC side voltage vectors are represented by Equations (1)–(3), whereas the application
transformation [32]. The AC side voltage vectors are represented by Equations (1)–(3), whereas the of Clark’s
transformations
application is given
of Clark’s in Equation (4).
transformations is given in Equation (4).

va (t) = Vm cos(θ) (1)

2π
 
vb (t) = Vm cos θ − (2)
3
4π
 
vc (t) = Vm cos θ − (3)
3
The details of variables attached to Equations (1), (2), and (3) are as follows. va , vb , and vc are
the respective phase voltages in the balanced AC grid, Vm represents the amplitude of phase voltage,
θ = ωt represents the phase angle measured in radians. The design of any control method in the
original/natural three-dimensional frame (or ABC frame) is complicated because of three independent
vectors concerning different state variables, e.g., voltage or current, etc. Therefore, the variables in
the original/natural three-dimensional frame are converted to a two-dimensional frame, either static
frame (or αβ-frame) using Clark’s Transformation, or a rotating frame (or dq-frame) using Park’s
Electronics 2019, 8, 1305 6 of 14

Transformation, depending on the design of the control. In this way, control schemes can be designed
based on the control of two independent vectors, simpler in design and easier to implement.

−√12 −√21
    
 vα (t)   1  va (t) 

 vβ (t)
 2
 = Tvabc (t) = 
 3 3

 vb (t)

0 2 − 2
 (4)
  3  1 1 1
 
vo (t) vc (t)
   
2 2 2
h i0
In Equation (4), “T” is the transformation matrix, vα (t) vβ (t) vo (t) represents the voltage vector
h i0
in the αβ-frame, while va (t) vb (t) vc (t) denotes the voltage vector in ABC-frame. Using similar
approaches, current in the two-dimensional stationary frame can also be obtained. Once the values
in the two-dimensional stationary frame are obtained, then these transformed into two-dimensional
rotating frame or dq-frame, by the application of Park’s t transformations, which is given in Equation (5).

cos(θ) sin(θ)
    
 vd (t)   0  vα (t) 
−sin(θ) cos(θ)
    
 vq (t)  = To vαβo (t) =  0  vβ (t)  (5)
    
vo (t) 0 0 1 vo (t)
   

h i0
In Equation (5), vd ( t )
vq (t) vo (t) represents the voltage vector in dq-frame, “To ” is the
h i0
transformation matrix, and vα (t) vβ (t) vo (t) indicates the voltage vector in αβ-frame. It should
be noted that if the d-axis of the rotating frame (dq-frame) is aligned to the AC voltage vectors, such
that vq = 0, consequently, the instantaneous active and reactive power is given in Equations (6) and (7),
respectively, which are based on the instantaneous power theory of Akagi [33].

3
P= v i (6)
2 dd
3
Q = − vd iq (7)
2
From the mathematical relationships, it is evident that the control of active and reactive power is
directly linked with controlling current and voltage in the dq-frame. Figure 3 explains the
Electronics 2019, 8, x FOR PEER REVIEW
working of
7 of 15
conventional double-loop control for two-level voltage source inverter (VSI) [34]. An outer control loop
produces the
loopreference
produces the currents Id∗ and
reference Iq∗ , and
currents I d* and I q* , and
these reference values serve
these reference values as input
serve for the
as input for inner
the control
loop. Theinner
inner control loop controls the actual values of V and V to
control loop. The inner control loop controls the actual dvalues ofq Vd and Vq to produceproduce desired reference
current, and ultimately Vd∗ and Vq∗ are transformed * into
* abc frame and then sent to the pulse width
desired reference current, and ultimately Vd and Vq are transformed into abc frame and then
modular PWM controller to directly control the firing angle of IBGTs to achieve the desired results.
sent to the pulse width modular PWM ∗ , P∗controller to directly control the firing angle of IBGTs to
Where LE is the line inductance and Vdc , Q∗ are the reference values * * of DC
* voltage, active power,
achieve the desired results. Where LE is the line inductance and Vdc , P , Q are the reference
and reactive power, respectively.
values of DC voltage, active power, and reactive power, respectively.

Outer loop Inner loop

Vd  V *
P* , Vdc* I d* d
PI PI 
 
P  Id 
 LE


Iq
 LE
*   V*
Iq q
*
Q 
PI 
PI 
Q  Vq 
Figure 3. Double loop-control for the converter.
Figure 3. Double loop-control for the converter.
4.2. Two-Terminal Model Simulation
The schematic layout used for simulation is shown in Figure 4, whereas the double-loop control
structure explaining the control aspects of VSI is given in Figure 3. For simulation, a two-terminal
system is developed with conventional 2-level VSI and double loop control.

Line
 Iq Vq
*
Q 
PI 
PI 
Q  Vq 
Electronics 2019, 8, 1305 7 of 14
Figure 3. Double loop-control for the converter.

4.2.
4.2. Two-Terminal
Two-Terminal Model Simulation
The
The schematic
schematic layout
layout used
used for
for simulation
simulation is
is shown
shown inin Figure
Figure 4,
4, whereas
whereas the
the double-loop
double-loop control
control
structure
structure explaining
explaining the
the control
control aspects
aspects of
of VSI
VSI isis given
given in Figure 3. For
For simulation,
simulation, aa two-terminal
two-terminal
system
system is
is developed
developed with
with conventional
conventional 2-level
2-level VSI and double loop control.

Line
Terminal-I
Terminal-II
Phase Reactor Phase Reactor
Bus-I

Bus-II
AC-Grid
Passive Network
VSC-I Line VSC-II
Figure 4.
Figure VSC-HVDCsystem
4. VSC-HVDC systemwith
withthe
thepassive
passive network.
network.

The terminal-I
The terminal-I used
usedtotoregulate
regulate thethe
DC-voltage
DC-voltage andand
reactive power,
reactive whereas
power, for terminal-II
whereas active
for terminal-II
and reactive
active power power
and reactive is regulated. Between
is regulated. two terminals,
Between an 800 km
two terminals, an long transmission
800 km line model
long transmission line is
also used. The essential parameters for the system are given in the Appendix Table
model is also used. The essential parameters for the system are given in the Appendix Table A1; the A1; the simulation
model is also
simulation builtisunder
model theseunder
also built parameters.
these parameters.
The Figure 5a contains the AC grid
The Figure 5a contains the AC grid voltage voltage concerning
concerning terminal-I,
terminal-I, likewise,
likewise, Figure
Figure 5b
5b shows
shows the
the
terminal
terminal DC-voltage
DC-voltage at VSC-I,
at VSC-I,and it can be seen that the regulation of terminal DC voltage is achieved
Electronics 2019, 8, x FOR PEER REVIEWand it can be seen that the regulation of terminal DC voltage 8 of is
15
convincingly, and terminal DC voltage is kept at the desired level of
achieved convincingly, and terminal DC voltage is kept at the desired level of 400 kV.400 kV.

(a) (b)
Figure 5. VSC terminal-I voltages; (a) AC grid voltage, (b) DC-voltage.

The receiving voltage at DC-link

DC-link capacitors
capacitors of terminal-II
terminal-II is is depicted
depicted in
in Figure
Figure 6a.
6a. It can be
observed that DC-voltage
DC-voltage is slightly less than the rated value; this is obvious because line parameters
can influence the value
value of
of DC-voltage
DC-voltage at at the
the receiving
receiving station.
station. The remaining results concerning
concerning
terminal-II includes AC voltage and current
current in
in Figure
Figure 6b.
6b.
 Figure 5. VSC terminal-I voltages; (a) AC grid voltage, (b) DC-voltage.

The receiving voltage at DC-link capacitors of terminal-II is depicted in Figure 6a. It can be
observed that DC-voltage is slightly less than the rated value; this is obvious because line parameters
can influence
Electronics the value of DC-voltage at the receiving station. The remaining results concerning
2019, 8, 1305 8 of 14
terminal-II includes AC voltage and current in Figure 6b.

(a) (b)
Figure6.6.VSC
Figure VSCterminal-II
terminal-IIvoltages
voltagesand
andcurrent;
current;(a)
(a)DC-voltage,
DC-voltage,(b)
(b)Voltage
Voltageand
andcurrent
currentwaveforms.
waveforms.

Lastly,
Lastly,Figure
Figure77shows
showsthe
theactive
activepower
powertransmitted
transmittedtototerminal-II,
terminal-II,where
whereititisisapparent
apparentthat
thatthe
the
active
activepower
powerisisregulated
regulatedsuccessfully
successfullyatatterminal
terminalone,
one,which
whichisiskept
keptatatthe
thelevel
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400MW
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Electronics 2019, 8,criteria.
designed criteria.
x FOR PEER REVIEW 9 of 15

Figure 7.
Figure Activepower
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5. Cost Assessment
5. Cost Assessment
Economic comparisons can usually be made by various methods, as depicted in Figure 8. However,
Economic comparisons can usually be made by various methods, as depicted in Figure 8.
the discounted cash flow method (DCF) is the commonly used method due to its time value of money.
However, the discounted cash flow method (DCF) is the commonly used method due to its time
In this context, all imminent cash flows are computed and discounted to get the net present values
value of money. In this context, all imminent cash flows are computed and discounted to get the net
(NPV) [8].
present values (NPV) [8].

Feasibility Study

Revenue Expense
Analysis Analysis

Discount Cash Flow

Economic
Internal Rate of Return
Evaluation
 5. Cost Assessment
Economic comparisons can usually be made by various methods, as depicted in Figure 8.
However, the discounted cash flow method (DCF) is the commonly used method due to its time
value of2019,
Electronics money.
8, 1305In this context, all imminent cash flows are computed and discounted to get the
9 ofnet
14
present values (NPV) [8].

Feasibility Study

Revenue Expense
Analysis Analysis

Electronics 2019, 8, x FOR PEER REVIEW

Electronics 2019,Discount 8, x FOR PEER Cash REVIEW Flow

of China (SGCC) and Ministry of Water and Power Pakistan under th
Economic estimated cost is 1658.34 $MReturn (approximately 1.9 $M/km) [44]. Sim
of China (SGCC) Internal and Rate Ministryof of Water and Power Pakistan under
Evaluation
estimated cost of 1.7 $M/km for the proposed HVDC line, which is rea
estimated cost isElectronics 1658.342019, $M 8,(approximately
x FOR PEER REVIEW 1.9 $M/km) [44]. Sim
of previously selected Pay Back HVDC Period projects. Hence, the proposed HVDC mo
estimated cost of 1.7 $M/km for the proposed HVDC line, which is re
and a better choice for the future transmission projects in Pakistan.
of previously selected of China
Break-even HVDC (SGCC)
Point projects. andHence, Ministry theof proposed
Water and HVDC Power m
and a better choice for the future
estimated cost transmission
is 1658.34
Electronics 2019, 8, x FOR PEER REVIEW $M projects
(approximately in Pakistan. 1.9
6. Conclusions
estimated cost of 1.7 $M/km for the proposed HVDC
6. Conclusions
The southwestern of previouslyregion of of the country
selected
China (SGCC) HVDC isandexpected
projects.
Ministry to become
Hence,of Watertheapr ha
development due and to CPEC a region
better projects.
choice
estimated Conversely,
for
cost theisfuture power
transmission shortage proje an
The southwestern of the country is1658.34
expected $Mto(approxim
become ah
factors in this
Business Decision development due to CPEC projects. Conversely, power shortage area and should be
estimated solved cost promptly
of 1.7 $M/km to enhancefor the the CPE
propos a
activities. In this context, 6. Conclusions a study of previouslyof technical and economic aspectsHen of
Making factors in this area and should be solved selected promptly HVDC to enhance projects. the CP
HVDC transmission
2019, 8, x FORline PEERisREVIEW carried
and a better out. choice The simulation for the results for th
the future transmis
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study of technical region and of economic country aspects
is expe o
waveforms are found stable and reliable at the receiving end. The DC
HVDC transmission developmentline is carried due out. to CPEC The simulationprojects. Conversely, results for tp
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system is forlower theasannual compared cost;tohere, the HVA reliab
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in this and area reliable
and should at the be receiving
solved promptly end. The D t
neglected. DCF analysis
is found to be 3725 $M, while the HVDC NPV was 2599 $M. Moreove result is the difference of NPVs of mentioned
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(8) 2019-01-07-00-02- N
=𝑃𝑐𝑜𝑠𝑡
LATIN CAPITAL
expressed
reactive as;
power compensations, Nomenclature
are the Active
𝑇𝑜𝑡𝑎𝑙
annual cost cost substation,
(Ç), NPV, (9)
Annuity overhead+software,
factor 𝐶 (Ⱥ), transmission
𝐶 , are(9) line, and (11) cost
𝑇𝑜𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡 𝑐𝑜𝑠𝑡 𝑇𝑜𝑡𝑎𝑙 = 𝑆𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
+ 𝐿ÇÇ0246 + 𝑂𝑇
𝑁𝑃𝑉 =𝐿𝑠𝐿𝑠 =
𝑇𝑜𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
Ɇ Ɇ𝑆 + 𝐿 + 𝑂𝑇 𝑐𝑜𝑠𝑡cost (Ç),
Ƀ collection, / +=𝐶(10) validation, M.H.N., (11
M.A.,
+=𝐿𝑠 𝑀𝑄++ + 0246 0243
\textstrokecapitale \textstrokecapitale \textbarcapitalb
reactive power compensations, ÇÇ==𝑀𝑀 + == 𝑀𝐿𝑠
M respectively.
LsReactive The
power
Conflicts annual /𝐶 NPV, ƤȺAnnuity
(10) +(10) (10)
[Ç (10) ∗ (1factor− no ɍ) − (ɗ ∗𝐶ɍ)]
LATIN
(Ⱥ),
CAPITAL
of,in
expressed as;
𝑇𝑜𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡 0247 c 𝑃 0247
𝑐𝑜𝑠𝑡 ɇ c Active = ɇpower
0244 \textstrokee
\textstrokee
𝑆 + 𝐿 + 𝑂𝑇 Ʉof Interest: The
\textbarcapitalu (9)
authors declare conflict
LATIN SMALL L
ere, 𝑆 , 𝐿 , 𝑂𝑇 , and 𝑄where, are the 𝑆 , cost 𝐿 , 𝑂𝑇 , and 𝑄 as;
ofexpressed
substation, areland, theoverhead
cost of substation, Ç
transmission Annual [1
land, −
line, (Ð
overhead
cost +\textbarcapitalj
and cost ]
1)maintenance Funding:
transmission
of This work
line, andwas supported
cost of in part
(12) by
𝑁𝑃𝑉𝑁𝑃𝑉
NPV == =𝑇𝑜𝑡𝑎𝑙
𝑇𝑜𝑡𝑎𝑙 0248 where,
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
Total𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
investement 𝑄cost Ɉ𝑐𝑜𝑠𝑡
0248
𝑐𝑜𝑠𝑡 𝑀
ȺReactive
= stands [1
Ɉ/ 0245
−
power
\textbarcapitalj
+
+ (Ð
for
+ 𝐶
C 𝐶 + 1)ɅEducation ] \textturnedcapitalv
cost, 𝐿𝑠 (11) denotes
(11)
(11) the cost LATIN of (12lo
CAPITAL
ctive power compensations, reactive respectively.
power 𝑁𝑃𝑉
𝑁𝑃𝑉
compensations,
The = = 𝑇𝑜𝑡𝑎𝑙
𝑇𝑜𝑡𝑎𝑙
annual 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
respectively.
cost (Ç), Ç=
NPV, 𝑐𝑜𝑠𝑡
The𝑀
𝑐𝑜𝑠𝑡
Ⱥ Annuity+ 𝐿𝑠
annual Ⱥ
HVAC/DC
/ += +
factor
cost 𝐶
/ 𝐶 (Ç),
(Ⱥ), da
Nomenclature 𝐶
NPV, , Ð
Annuity
are factor (11)
(11)
Commission (Ⱥ), 𝐶 (10) ,
(Grant are number: 2019-0
where, 𝑆 , 𝐿 , 𝑂𝑇 , and 𝑄 are the cost ofh0249 substation,
shows Ç systemɉ
0249 Annuity
/land,
Annual \textbarjfactor
overhead
ɉ 0246
Çcost = 𝑀 +ƤȺ
lifetime, \textbarj Ɇ
transmission Ð line,
𝐿𝑠 is the present cost for Ⱥ, Ƴ represents an
\textstrokecapitale and cost of LATIN SMALL
(1L
Ð
i
ressed as; expressed as;
reactive power compensations, respectively. 1 −The( + Ɋ
annual 1 ) −t
Discount Ɋ factor ɇ Conflicts of Interest: 𝐶get
The , aare
authors declare (13) c
no
𝑁𝑃𝑉 = [1 𝑇𝑜𝑡𝑎𝑙
[1 − (Ð [1[1−
024A
+− (Ð
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
(Ð 1)(Ð 𝐶+
rate ]Ⱥ+]1)
024A
1)
and 𝑐𝑜𝑠𝑡 ] cost
+ [Ç(Ç),
] depreciation
= Annuity
ƤȺ 0247
\texthtcapitalq
(1𝑃
∗factor
/ ∗+
NPV,
− 𝐶ɍ) value,−Annuity
\texthtcapitalq
Active (ɗrespectively.
∗ ɍ)]power factor (Ⱥ),
\textstrokee To(12) (12)(11) more representat LATIN CAPITAL

Ⱥ = Ⱥ −
Ⱥ = =
= + 1) ɍ 𝐶 = ƤȺ + [Ç (1 − ɍ) − (ɗ ∗ ɍ)] (12)
(12) (12) (13
𝐿𝑠ÐÐ 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
Ⱥ= 024B ɋ
024B Taxation ɋ
\texthtq rate
0248 \texthtq Ɉ \textbarcapitalj (1L
expressed as; Ç𝑁𝑃𝑉 =Ð𝑀Ð =Ð+ 𝑇𝑜𝑡𝑎𝑙 𝑄 is𝑐𝑜𝑠𝑡 / to+be 𝐶 30 years, whereas theSMALL LATIN
Ç = 𝑀 + 𝐿𝑠 the transmission
Discount system
factor (10)
Reactiveassumed power (10) disc
where, 𝑀 stands for maintenance h[1 −ofɗ(Ð
024C cost,Ɍ
024C 𝐿𝑠
Depreciation Ɍ
denotes
0249
\textbarcapitalr the ɉ cost
valuetheNomenclature
\textbarcapitalr of losses,
\textbarj Ð is the discount factor, t
where, 𝑀 stands for maintenance ɍ13.25%
+ cost,
1) ]𝐿𝑠 17%,
and
Taxation denotes
irate Çrespectively, Annual cost cost are set for Ð
of losses, this is
(13) the discount
study
(12)
LATIN
[36,37]. factor,
CAPITAL

𝐶 𝐶 = = ƤȺƤȺ
ƤȺ Ⱥ =
+ + [Ç
is(1 Ç
[Ç ∗= ∗(1 𝑀
(1 − − +ɍ)
ɍ ɍ)𝐿𝑠
− − (ɗ(ɗ ∗ ∗ɍ)]
ɍ ɍ)]
) Ⱥ,−Ⱥ,
024A Ƴ Ɋ \texthtcapitalq costs, ɍ(13)
(13) (13) (10)
and ɗ are taxation
𝑁𝑃𝑉 = 𝑇𝑜𝑡𝑎𝑙 shows system
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
shows 𝐶𝐶 lifetime,
system = =𝑐𝑜𝑠𝑡
𝑁𝑃𝑉 C
ƤȺƤȺda =
lifetime,+=+[Ç [Ç∗/ƤȺ
𝑇𝑜𝑡𝑎𝑙 ∗+
(1 −is−𝐶ɍ)
the
024D ∗ɍ)
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
+ the
1−−(ɗ
present
(− (ɗ)∗Depreciation
024D
ɗpresent ∗− ɍ)]
cost
ɍ)] ( cost
𝑐𝑜𝑠𝑡 Ð∗for[1
\textbarr
=Ɏfor
Ⱥ\textbarcapitaly / Ⱥ value
represents
\textbarr
(Ð+ Ƴ+𝐶Annuity
1) 𝑃
(11)
represents ] annual (13)
annualpower
factor
Active costs, ɍ(11) and ɗ are taxatio
LATIN SMALL
(1
L

rate and depreciation value, 024E

respectively.
Abbreviations Ɏ
024E To get 024B
alosses, ɋ
\textbarcapitaly
more representative Ð discount
\texthtq reflection, the lifetime (t) of LATIN CAPITAL
where,
𝑀𝑀 stands 𝑀 𝑀 standsstands for
rate maintenance
and depreciation cost,
𝐿𝑠 𝐿𝑠𝐿𝑠
value, denotes
respectively. the cost To ofget Ð 𝐶Ð Ðisdiscount
is 𝑄the factor, t t the lifetime
/ÐÐ
where,
where, where,
where, stands
M for
formaintenance
for maintenance maintenance 𝑁𝑃𝑉cost,
cost,
cost, cost,
𝐿𝑠 = 𝑇𝑜𝑡𝑎𝑙denotes
denotes
Ls denotes
𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡 5.2.
the
the the
Investment
cost
cost ɏ−be of cost
𝑐𝑜𝑠𝑡
of of
losses,
losses, ɏCost losses,aAnalysis
+
is more
is
isthe Ɍ representative
Discount the
discount discount
factor factor,
Reactive
factor, reflection,
factor,t (13)
tpower
t shows (11) (t) o
c stands for
the maintenance
transmission 𝐶
system = denotes
cisƤȺ +
024F
assumed [Ç ∗the(1 to cost
024F ɍ) of
−
30 losses,
(ɗ
\textbary
years, ∗024C
ɍ)] the
\textbary
whereas discount
the \textbarcapitalr
discount factor (Ð) and the tax LATIN SMALL L
rate
shows
shows system
system lifetime,
lifetime, [1
ƤȺ ƤȺ − is(Ð
is +
the
the 1) ]
present
present cost
cost for
for [1
Ⱥ, Ⱥ,− Ƴ (Ð
Ƴ + 1)
represents
represents ] annual
annual (12)
costs,
costs,
ɍ∗\textturna ɍ ɍ andand ɗ ɗ are
are taxation
taxation (12) (1
showssystem
shows lifetime,ƤȺ
systemlifetime,
system ƤȺȺthe = transmission
isisthethepresent
presentcost
present system
cost Ð forȺ,Ⱥ
for Ⱥ, Ƴ Ƴrepresents
is,0250
=assumedAbbreviations
CPEC
represents
represents ɐ to =
𝐶
0250
VSC-HVDC
be
ChinaƤȺ30ɐ+
annual
annual years,
\textturna
annual Ðstudy [Ç
Pakistan
costs,
costs,
024D costs,
system
whereas
(1 ɍ− ɍTaxation
isɍ)
Economic
ɍand
and
and−Çɗ(ɗ
based ɗ\textbarr
the are discount
∗are ɍ)]
rateCorridor
Annual
are
on taxation
taxation
ataxation cost
relatively
factor ratenew (Ð) and the
technology,
tax ra
LATIN SMALL L
w
𝑀 of 13.25% and 17%, respectively, 𝐿𝑠 are set for this [36,37].
rateand
rate andrate
rate
and anddepreciation
where,
and
depreciation
depreciation depreciation
depreciation stands value,
value, offor
value, value,
maintenance
13.25%
value,
respectively.
respectively. respectively.
and
respectively. 17%,
respectively. ToTocost,
To get
get Ⱥ
getTo
respectively,
To a a= get[1
get
more
0251
more
a more −amore
denotes
aVSC (Ðmore
are +
ɑ setthe
representative
0251
representative
representative for ]\textscripta
1)representative
cost
representative
Voltage this of
ɑ 024E losses,
ɗ
study
source
reflection,
reflection,
reflection, ɎÐthe
reflection,
[36,37].
reflection,
converter is
Depreciation
\textscripta theȺthe the the the lifetime
discount
lifetime
\textbarcapitaly
lifetime
lifetime Annuity
lifetime value
(t)(t) of
(t) of (t)(t)the
factor,
factor
of of of t
(12) LATIN SMALL L

the transmission where, ƤȺ 𝑀is the stands for maintenance DCCPEC or AC

Ⱥ,whereasƳɒthecost, China𝐿𝑠
options.Ðdiscount However,
Pakistan
denotes Economic
the this
cost choice
ɍthe ofandCorridor
losses,may Ð
ɗthe
also is depend
the discount on thefacto econ
the shows
thetransmission
the transmission
transmission system
transmission 𝐶system
system
system =system
lifetime,
system
isƤȺ
isassumed
assumed
is is
is[Ç
+assumed ∗assumed
(1toto
assumed −be be
to to
−
30
30
be to𝐶(ɗ
ɍ)present be be∗30
years,
years,
30 30
cost
=ɍ)]
years, years,
years,
ƤȺ0252 for
+whereas
whereas
whereas [Ç
MMC whereas (1
∗ 0252
the represents
−the ɍ)thethe
− ɒ(ɗ
discount
discount
discount discount
024F annual
∗factor
\textturnscripta
Modular ɍ)] factor
ɏ(Ð)
(13)
factorcosts,
\textturnscripta
multilevel
factor factor (Ð) Ð
and
(and ) (Ð)
(Ð) and
and
\textbary
converter
and Discount
the tax
tax
the the are
rate
rate
tax taxtax
taxation
factor
rate rate
rate of(13) LATIN SMALL L

of13.25%
13.25%
rate and and 17%,
depreciation
5.2.
5.2.
Investment
shows system
Investment
respectively,
value,
Cost
Cost
are
Analysis
lifetime,
respectively. set Analysis
for ƤȺ
this
To0253 is In
study
get
VSC
the this
present regard,
ɓ High
[36,37].
a [36,37].
more
0253
Voltage
cost a forcost
ɓvoltage
representative
\m{b} 0250 Ⱥ,
source\m{b} Ƴ
analysis converter
represents
ɐ current
reflection,
is drawn
\textturna annual to
the lifetime
compare
costs, (t) ɍof
the
and ɗ
HVDC are and
taxati H
of of
of13.25%
13.25%
13.25% and
and 17%,
and and
17%, 17%, 17%,
respectively,
respectively, respectively,
respectively, areare
are setsetare for
for
set set
𝐶 this
this
for for
=
this
study
study
this ƤȺstudy+
studyHVDC
[36,37].
[Ç
[36,37]. ∗ (1
[36,37]. − ɍ) − (ɗ ∗ Abbreviations
ɍ)] direct ɍ generation Taxation rate815 (13) LATIN SMALL L
ere, 𝑀 stands for maintenance where, 𝑀 cost, stands 𝐿𝑠
rate fordenotes
maintenance
and the cost
depreciation tocost,of 30 𝐿𝑠years,
losses, better
MMC
denotesÐ is the option Modular
the\m{b} for
discount
cost a 3500
multilevel
of a\m{b}
losses,
factor, MW Ðt is\textscripta
converter
the and discount over factor, km overhead
t lifetime (t) tra
the transmission system
VSC-HVDC is assumed system beisvalue,
based respectively.
HVACon whereas
a relativelyHigh
To
the get
0251discount
new
voltage
more ɑ factor
technology,
alternate
representative
ɗcurrent (Ð)which makes
current
Depreciation the reflection,
tax itrate
value better the than other
ws system lifetime, ƤȺ shows
is the system
present lifetime,
cost
the VSC-HVDC
for ƤȺ
Ⱥ,
transmission Ƴis system
represents
the present
system iscost
based
annual
is considered
for
assumedHVDC on Ƴatoɍrelatively
Ⱥ,
costs, High\texthtb
in
represents
and
be 30 ɗ
thisvoltage
are
years, new
work
CPEC \texthtb
annual technology,
taxation is
direct
ɒ
whereas comprised
China
costs, the ɍ which
Pakistan
and of
discount ɗbipolarmakes
Economic
are taxation
factor it(Ð)better
ground-return
Corridor than
andsystems.
the tax othe
tran r
5.2. where,
5.2.
of
5.2.Investment
5.2. Investment
Investment
13.25%
InvestmentCost 𝑀 and stands
CostAnalysis Cost
Cost 17%,
AnalysisDC or for
Analysis
Analysis AC maintenance
respectively,
options. are cost,
However,set for 𝐿𝑠 this denotes
study
choice
LCC the
[36,37].
may Line cost
also
\textbhook
0252
of
depend
commutated losses,
\textbhook on Ðthe is \textturnscripta
the
economic
converter discount aspects factor, of the t two
e and depreciation value, rate respectively.
and
shows systemIn depreciation DC To or
of 13.25%
lifetime,
AC
getvalue,
ƤȺ is a options.
more
and However,
respectively.
representative
17%, respectively, To thisthe
HVAC
get choice
cable
reflection,
a
Ⱥ,are more
ɔƳtoset
may also
cross-section
High voltage
representative
forthe depend
VSC
lifetime
0253
ɔthis study of ɓ
(t) 4
alternate on× 125
the
Voltage
reflection,
of
[36,37]. \m{b} 𝑚𝑚
economic
current
ɍ HVAC sourcethe
and ɗ are . A aspects
substation
converter
lifetime (t)of ofthe
with two system
voltage-ra
this regard, athecost present
analysis cost isfor
0254 drawn
DCF 0254 represents
\m{o}
compare
Discounted annual
the \m{o}HVDC
cash costs, and
Abbreviations
flow systems taxation to determine the L
LATIN SMALL

transmission system VSC-HVDC

VSC-HVDC is
theVSC-HVDC
VSC-HVDC
assumed system
transmission
system to system
system
beIn
is is 30this
based
system
based isis
years, based
regard,
based
onon
is a a
whereasaon
on aarelatively
cost
relatively
assumed
relatively relatively
analysis
theto new
be
discount
new 30 is
newnew
each
LCCdrawn
technology,
years,
technology, factortechnology,
technology,
of the
whereasto
(Ð) compare
proposed
Linewhich
which and
\textopenothe which
which
commutated
MMC
makes
the the
discount
makes tax
\textopeno makes
HVDC
makes
locations,it it
rate better itmethod
factor
better itand
\m{b} better
better
i.e.,
converter
Modular than
than(Ð) HVAC
Gwadar than
multilevel than
other
and
other the other
systems
other
and tax Matiari.
converterrate to determine th
rateInvestment
5.2. and depreciation Cost Analysis
better value,for
option respectively.
a 3500may MWalso Togeneration
get
NPV a moreover Netrepresentative
815
present km overhead
value reflection, the lifetime
transmission
\texthtb line. (t) of The DC system
3.25% and 17%, DCDCor orDCDC
AC ororACACoptions.
options.
respectively,
AC of 13.25%
options. options.
areHowever,
and
However, However,
better
setHowever,
17%,
for 5.2. this
this option thischoice
this
choice
Investment
respectively,
study
choice choice
formay
Cost
[36,37].
may aare 3500
may
also
also Analysis
set MWthis
also
depend
for
depend depend
generation
depend
DCF
on on
studythethe on on
Nevertheless, the
the
economic
[36,37].
economic economic
\textoopen
over economic
Discounted 815 the
HVDC \textoopen
aspects
aspects km aspects
overhead
aspects
HVAC
cash ofofflowtheof
High
CPEC
the twoof the
systems
method the
voltage
two two two
transmission
systems.
China
systems.
\textbhook are systems.
systems.
direct proposed
Pakistan line.Economic
current The
to be DC500 system
CorrikV
the transmission system
considered isinassumed
this work to isbe 30
comprised years,
0255 Cda whereas
ɕof
0255 bipolar ɕthe
\textctc
Discounted discount
ground-return
\textctc
annual factor
cost (Ð)
transmission and the tax
lines rate
at 350 kV LATIN having
In In
this In this
this
regard, regard,
VSC-HVDC
regard,
a cost a a cost
cost
analysis systemanalysis
considered
analysisis is
drawn is is
based
in drawn
this
drawnto on worka
to
compare
In this regard, a cost analysis is drawn to compare the HVDC and HVAC systems to determine the to compare
relatively
is
compare comprised
the the the
new
analyzed
NPV
HVDC HVDC
HVDC technology,
of
and bipolar
based
Net and
HVAC and
present
0254 HVAC
HVAC
onHVAC which
ground-return
the
systemsvalue systems
makes
systems
ɔ
transmission
High
to
VSC it
to to
voltage
determine
\m{o} determine
better
transmission
determine
system
Voltage than
alternate
the thethe
other
lines
components.
source at
current 350
converter kVThese
SMALL L
havin co
Electronics 2019, 8, 1305 10 of 14

5.2. Investment Cost Analysis

VSC-HVDC system is based on a relatively new technology, which makes it better than other DC
or AC options. However, this choice may also depend on the economic aspects of the two systems.
In this regard, a cost analysis is drawn to compare the HVDC and HVAC systems to determine the
better option for a 3500 MW generation over 815 km overhead transmission line. The DC system
considered in this work is comprised of bipolar ground-return transmission lines at 350 kV having the
cable cross-section of 4 × 125 mm2 . A substation with voltage-rating 350 kV is to be installed at each of
the proposed locations, i.e., Gwadar and Matiari.
Nevertheless, the HVAC systems are proposed to be 500 kV grid at both ends. The cost is analyzed
based on the transmission system components. These components are the substations, transmission
lines conductors, installation, and land expenses, as illustrated in Table 3 (cost/component is calculated
in a million US dollars “$M”). STATCOM expenses are also included in the case of HVAC. It can be
seen that despite the higher price of HVDC substations, the total price is kept low due to the cheaper
overhead transmission line equipment and absence of STATCOM. The total cost required for an 815 km
AC transmission line is 1201 $M, with a cost of 1.47 $M/km, which is 1.35 times of HVDC line cost.

Table 3. HVAC and HVDC systems investment cost comparison [8,9,38].

Transmission Systems
Components
HVAC Cost ($M) HVDC Cost ($M)
Substation 343 490
Land use 65 65
STATCOM 189 Nil
Overhead system 1201 889
Total price 1798 1445

5.3. Annual Cost

The system maintenance costs and losses each year will account for the annual cost of the system.
The annual maintenance cost is considered to be 0.5% of the total components cost. These components
are the substations costs, cable installment costs, and STATCOM costs in case of the HVAC system.
The annual maintenance costs of the HVDC and HVAC systems are found to be 4.45 $M and 3.37 $M,
respectively. The VSC based HVDC systems have comparatively higher losses, with a percentage of
1.8% for each station. In the case of two stations, 3.6% of the total power flow is considered, which is
found to be 52.02 $M. In the case of HVAC systems, 5% of total power flow is considered to be the loss.
Hence, 89.92 $M is computed to be the loss’s cost for HVAC systems. As a result, the annual costs for
HVDC and HVAC systems are calculated to be 56.48 $M and 94.3 $M, respectively.

5.4. Discounted Cash Flow (DCF) Analysis

From the perspective of transmission systems, the DCF analysis results presented in Figure 9,
are of great significance. It shall be noted that on a lifetime basis, the HVDC system is cheaper than
the HVAC system. As compared to the investment costs, the higher difference in NPV is due to the
significant difference in the annual costs. It must be stated that the VSC based HVDC systems are still
evolving and are expected to be more feasible in the future.
 5.4. Discounted Cash Flow (DCF) Analysis
From the perspective of transmission systems, the DCF analysis results presented in Figure 9,
are of great significance. It shall be noted that on a lifetime basis, the HVDC system is cheaper than
the HVAC system. As compared to the investment costs, the higher difference in NPV is due to the
significant
Electronics difference
2019, 8, 1305 in the annual costs. It must be stated that the VSC based HVDC systems11are still
of 14
evolving and are expected to be more feasible in the future.

Figure DCF
9. 9.
Figure analysis
DCF comparison
analysis of of
comparison HVAC and
HVAC HVDC.
and HVDC.

5.5. HVDC Systems’ Economics Comparison

5.5. HVDC Systems’ Economics Comparison
It is difficult to determine the exact cost of an HVDC system because each project has different
It is difficult to determine the exact cost of an HVDC system because each project has different
features and circumstances, such as rated power, line distance, terrain, and used technology. However,
features and circumstances, such as rated power, line distance, terrain, and used technology.
an overall estimate can be obtained based on the knowledge from previous projects. In particular,
However, an overall estimate can be obtained based on the knowledge from previous projects. In
the Chongqing-Hubei back-to-back DC grid interconnection project in China was the first distinct
particular, the Chongqing-Hubei back-to-back DC grid interconnection project in China was the first
VSC-HVDC line with the highest voltage capacity of 420 kV and the largest power transmission capacity
distinct VSC-HVDC line with the highest voltage capacity of 420 kV and the largest power
of 5000 MW, covering the total distance of 1711 km [39,40]. The project cost was 1498.36 $M, which is
transmission capacity of 5000 MW, covering the total distance of 1711 km [39,40]. The project cost
roughly 0.9 $M/km. Accordingly, the cost of 1.3 $M/km was calculated for South Australia to Queensland
was 1498.36 $M, which is roughly 0.9 $M/km. Accordingly, the cost of 1.3 $M/km was calculated for
400 kV HVDC line in Australia with a length of 1450 km [41]. The Southern Hami-Zhengzhou (SHZ)
South Australia to Queensland 400 kV HVDC line in Australia with a length of 1450 km [41]. The
HVDC line is one of China’s large-scale HVDC projects (800 kV, 8000 MW), which is stretched from
Southern Hami-Zhengzhou (SHZ) HVDC line is one of China’s large-scale HVDC projects (800 kV,
Xinjiang province in the northwest down to Henan province in central China. The project cost reached
8000 MW), which is stretched from Xinjiang province in the northwest down to Henan province in
3500 $M and about 1.8 $M/km. Whereas a slight decrease in the cost of 1.7 $M/km was incurred for the
central China. The project cost reached 3500 $M and about 1.8 $M/km. Whereas a slight decrease in
Lingzhou-Shaoxing HVDC line (with the same ratings of SHZ line) due to its shorter line coverage of
the cost of 1.7 $M/km was incurred for the Lingzhou-Shaoxing HVDC line (with the same ratings of
1722 km as compared to SHZ line distance, which is 2200 km [42,43].
SHZ line) due to its shorter line coverage of 1722 km as compared to SHZ line distance, which is 2200
Furthermore, Pakistan’s first-ever HVDC Line Matiari to Lahore with a rated power of 4000 MW
km [42,43].
and voltage of 660 kV, spanning 878 km, is in progress by the cooperation of State Grid Corporation
Furthermore, Pakistan’s first-ever HVDC Line Matiari to Lahore with a rated power of 4000 MW
of China (SGCC) and Ministry of Water and Power Pakistan under the vision of CPEC. The project
and voltage of 660 kV, spanning 878 km, is in progress by the cooperation of State Grid Corporation
estimated cost is 1658.34 $M (approximately 1.9 $M/km) [44]. Similarly, this study provides an estimated
cost of 1.7 $M/km for the proposed HVDC line, which is reasonably comparable to the cost of previously
selected HVDC projects. Hence, the proposed HVDC model is economically sustainable and a better
choice for the future transmission projects in Pakistan.

6. Conclusions
The southwestern region of the country is expected to become a hub for economic and industrial
development due to CPEC projects. Conversely, power shortage and energy security are critical factors
in this area and should be solved promptly to enhance the CPEC projects and other economic activities.
In this context, a study of technical and economic aspects of a proposed two-terminal VSC-HVDC
transmission line is carried out. The simulation results for the power, voltage, and current waveforms
are found stable and reliable at the receiving end. The DCF analysis shows that the net present value
of the HVDC system is lower as compared to the HVAC system. The NPV for HVAC is found to
be 3725 $M, while the HVDC NPV was 2599 $M. Moreover, the cost/km of the proposed model is
relatively analogous to selected existing HVDC projects. Therefore, HVDC proves to be a realistic and
feasible transmission system.
 HVDC transmission line is carried out. The simulation results for the power, voltage, and current
waveforms are found stable and reliable at the receiving end. The DCF analysis shows that the net
present value of the HVDC system is lower as compared to the HVAC system. The NPV for HVAC
is found to be 3725 $M, while the HVDC NPV was 2599 $M. Moreover, the cost/km of the proposed
EER REVIEW model is relatively
Electronics 2019, 8, 1305 analogous to selected existing HVDC 10 projects.
of 15 Therefore, HVDC proves to be a 14
12 of
realistic and feasible transmission system. 10 of 15
re accounted for theFurther annualresearch
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𝑇𝑜𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡 Author𝑐𝑜𝑠𝑡
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Funding: \textglotstopvari
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𝑆supported + 𝑂𝑇 M.Y.
in part by 2019 major scientific LATIN research and
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𝑚𝑒𝑛𝑡 𝑐𝑜𝑠𝑡 (9)
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LATIN SMALL LETTER GLOTTAL
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𝑇𝑜𝑡𝑎𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑒𝑚𝑒𝑛𝑡
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the cost of
presentAbbreviations
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the China
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cost of Pakistan
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Electronics 2019, 8, 1305 13 of 14

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