Most of countries around the world tends to increases the penetration of renewable energies generation in electrical power networks. This led to the emergence of many challenges in these systems, such as congestion of lines, voltage instability, etc. The most important of these problems is the spillage of renewable energies in order to maintain the stability of the power system. However, by using the traditional methods to mitigate the spillage, the stability of the power system may be deteriorated leading to a vulnerable power system against disturbances. This paper proposes a bilevel multi-objective Musical Chairs optimization algorithm for optimal allocation of multi-type flexible AC transmission system (FACTS) devices. The main target of the upper-level is to reduce the wind power spillage with minimize the investment cost of FACTS devices and load shedding, while maximize the voltage stability. Moreover, under different operating scenarios, the lower-level problem captured the market clearing with maintain the system constraints for maximize the social welfare. This leads to a robust and economical operating point where included enough levels of voltage security. The technique proposed in this paper is tested on the IEEE 24-bus modified reliability test system. The results show that the applicability of the proposed algorithm in aiding power system improvement planning for minimizing wind power spillage to integrate wind energy with maximizing the social welfare and improving the loadability and the voltage stability.
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