e7696065-6743-4be1-a183-9f4a5c6952fb20211115045006659naun:naunmdt@crossref.orgMDT DepositInternational Journal of Geology1998-449910.46300/9105http://www.naun.org/cms.action?id=28304720214720211510.46300/9105.2021.15https://www.naun.org/cms.action?id=23318A.R.SohrabiTavanir Co.IranThis paper proposes a dynamic model for evaluation of a Pumped Storage Project (PSP) . The optimal expansion policy is determined by considering different alternatives (Types of units: Rodbar PSP(RPSP), Steam Turbine , 2 types of Gas Turbine and a Combined Cycle) . Based on this model dynamic assessment of different alternatives (over a 20 years period and with a target Loss Of Load Probability (LOLP)) provides economic justification for RPSP.111520211115202130344https://www.naun.org/main/NAUN/geology/2021/a082004-004(2021).pdf10.46300/9105.2021.15.4https://www.naun.org/main/NAUN/geology/2021/a082004-004(2021).pdfAllen J.Wood , Bruce F.Wollenberg ,Power Generation Operation & Control ,John Wiley & Sons,1996,p121 Wien Automatic System Planning (WASP) Package, Version – IV User’s Manual , International Atomic Energy Agency , 2000 Economic information of Iran power plants, Tavanir production planning Dep , 2004 10.1109/ieeestd.1987.81031IEEE Standard definition for use in Reporting Electric Generating Unit Reliability , Availability, and Productivity , ANSI/IEEE 762 , 1987, p.15 Technical report for Rodbar Pumped Storage Project, ghodsniroo Consulting engineer Co, 2005 X.Wang , J.R.McDonald , Modern Power System Planning , McGraw-Hill Book Co., 1994, p.337 Harry. G . Stoll , Least–Cost electric Utility Planning , john willy & sons inc , 1989 , p516