This document presents a study investigating the coordinated use of an Interline Power Flow Controller (IPFC) and Superconducting Magnetic Energy Storage (SMES) device with a Fractional Order PID (FOPID) controller to improve the stability of a renewable energy-based interconnected power system. A two-area power system model is developed incorporating different generation sources including renewable energy. Communication time delays and generation rate constraints are also considered to make the analysis more realistic. A Water Cycle Algorithm is used to optimize the parameters of the FOPID controller. Simulation results show that the coordinated IPFC-SMES control along with the optimized FOPID controller enhances the dynamic performance of the system under different disturbances.