1. A method of optimizing an operation of a power generation system having a plurality of power generation devices, the method comprising: obtaining an objective function of the power generation system; obtaining a plurality of operating constraints of the power generation system; determining a plurality of relationships between a plurality of parameters of the power generation system, the plurality of relationships including a first relationship specifying an optimal operating range of one of the plurality of power generation devices as a function of a power factor of the one of the plurality of power generation devices; and solving the plurality of relationships to obtain an optimal solution for the objective function within the plurality of operating constraints of the power generation system.