Summary
Optimal reactive power deployment as per the statutory provisions of Indian Electricity Grid Codes is essential for better operation of the system. In this paper, a multiobjective optimization problem is solved for sizing and siting of the reactive compensation device. The proposed scheme comprises combination of particle swarm optimization and General Algebraic Modeling System to obtain location and rating of Distribution Static Synchronous Compensator (D‐STATCOM). The main highlights of the proposed work are (i) optimal sizing and siting of D‐STATCOM under load growth and load variations scenario; (ii) voltage stability margin enhancement with D‐STATCOM in a stressed distribution system with load variations and growth; (iii) impact of single and multiple D‐STATCOM units on the losses, voltage profile, and voltage stability margin improvement; and (iv) cost of energy loss savings and annual energy savings. The proposed method is tested on 33‐bus, 69‐bus, and 30‐bus real‐time distribution system of the East Delta Network of the Unified Egyptian network. Benefits to distribution network operator are assessed in reduction in cost of energy loss, annual cost savings, and enhanced voltage stability margin. The results are compared with other methods reported in literature to verify the competency of the proposed multiobjective optimization problem using particle swarm optimization and General Algebraic Modeling System. Annual cost savings of $27 776.97 and $33 297.17 are obtained with proposed technique for 33‐bus and 69‐bus, respectively, which is higher than existing methods. After installation of D‐STATCOM, voltage stability margin enhanced from 0.6956 to 0.75845 for 33‐bus RDS, from 0.68339 to 0.74555 for 69‐bus RDS, and from 0.80223 to 0.83001 for 30‐bus RDS.