Renewable generation as wind and solar has been showing significant growth in installed capacity around the world and Brazil is not an exception. This represents big challenges for operating power systems, commercial decision-making, and risk management. The integration of wind and hydro systems must deal with the spatial and temporal complementarity of hydrological and wind regimes to produce energy. To reduce uncertainties associated with this new reality, it is necessary to explore the integration of all energy sources, like wind power, solar, and hydropower. In this way, is imperative to consider the stochastic behavior and the dependence structures between these variables to define better commercial strategies, risk mitigation plans, and operational policies. This study explores the main approaches developed to address this problem.
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