Generation Expansion Planning (GEP) is one of major modules of power system planning studies, normally performed for the nex 10-30 years horizon. The current industrial practices are to find the generation requirements based on a

nodal analysis. In this way, the allocations are not determined and subequent studies are required to find the exact locations
which as decomposed from the earlier stage, may result in non-optimum solution. A new approach is proposed in this paper in which, based on dynamic programming and sensitivity factors, GEP is performed with due to consideration of transmission

system effects. In this way, the allocations of justified generation plants are also determined. The results for Iranian Power Grid for the years 2011 to 2021 are demonstracted.


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