This research investigates a grid with two areas interconnected by a high-voltage direct-current (DC) link. One of the areas, called the sending-end region, has intermittent renewable generation and frequency stability issues. To address the lack of frequency-regulation (FR) resources in the sending-end region of the interconnected grid, the participation of hydroelectricity–photovoltaics and pumped storage complementary systems (HPPCSs) in auxiliary frequency-regulation (AFR) services is studied in the context of the construction of the electricity market. Firstly, the HPPCS participating in AFR services considering DC modulation is modeled by combining the operational characteristics of the actual power station. Taking the purchase cost of auxiliary service as the objective function, the optimum allocation of FR scheduling demand is achieved by the proposed method. The simulations confirm that the proposed method of HPPCS participation in the AFR service of the sending-end grid can effectively maintain the frequency stability of the regional interconnected grid while ensuring optimal economic efficiency. The proposed method provides the optimal scheduling solution for multiple energy resources participating in the AFR service of the grid.