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                            This work focuses on the optimization of performance and profitability of a wind farm carried out by means of an economic model and Reynolds-Averaged Navier-Stokes (RANS) simulations of wind turbine wakes. Axisymmetric RANS simulations of isolated wind turbine wakes are leveraged with a quadratic super-positioning model to estimate wake interactions within wind farms. The resulting velocity field is used with an actuator disk model to predict power production from each turbine in the wind farm. Design optimization is performed by considering a site in North Texas, whose wind resource statistics are obtained from a meteorological tower. The RANS solver provides capabilities to simulate different incoming wind turbulence intensities and, hence, the wind farm optimization is performed by taking the daily cycle of the atmospheric stability into account. The objective functional of the optimization problem is the levelized cost of energy (LCoE) encompassing capital cost, operation and maintenance costs, land cost and annual power production. At the first level of the optimization problem, the wind farm gross capacity is determined by considering three potential turbine types with different rated power. Subsequently, the optimal wind farm layout is estimated by varying the uniform spacing between consecutive turbine rows. It is found that increasing turbine rated power, the wind farm profitability is enhanced. Substituting a wind farm of 24 turbines of 2.3-MW rated power with 18, 3-MW turbines could reduce the LCoE of about 1.56 $/MWh, while maintaining a similar gross capacity factor. The optimization of the spacing between turbine rows was found to be sensitive to the land cost. For a land cost of 0.05 $/m2, the layout could be designed with a spacing between 6 to 15 rotor diameters without any significant effect on the LCoE, while an increased land cost of 0.1 $/m2 leads to an optimal spacing of about 6 rotor diameters. 
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