According to your formulae, the compensation sysem only have capacitor. but It is only use for transmission gird and normal load. there are problem when use in industry plant which use a lot of big mortor or nonline load. We have to add reactor connect in series with capacitor, these reactor's function is protect capacitor. plz see the drawing in following:
But I don't know, with this compensator system, how do you caculate? how do you choose reactor?…ect