Renewable energy is crucial for reducing emissions and meeting future energy demands. However, due to concerns regarding intermittent supply, integrating RE into a multi-microgrid system might pose various power system problems, for instance, unstable electrical power output. As a result, increased load reactive power demands result in voltage losses during peak load demand. Therefore, it can be minimized by utilizing Flexible Alternating Current Transmission System (FACTS) devices in electrical networks, which are designed to strengthen the stability and control of power transfer and act as a controller for the AC transmission specification, which also provides speed and flexibility for certain applications. By identifying the need to implement solutions that can sustain the electric power quality of a microgrid, this paper presents a review of various method approaches which could be used to evaluate the impact of integrating the multi-microgrid systems with FACTS devices for voltage profile improvement and real power loss reduction in power system. In this paper, a comprehensive study is carried out for optimum multi-microgrid placement, considering the minimization of power losses, enhancement of voltage stability, and improvement of the voltage profile. An attempt has been made to summarize the existing approaches and present a detailed discussion that can help the energy planners decide which objective and planning factors need more attention for optimum locations and capacity for multi-microgrid and FACTS devices.