Table 310.16 takes all of this into consideration. Assuming THWN insulated copper conductors, 300 kcmil has an ampacity of 285 amps, therefore 2 paralleled 1/0 AWG conductors in separate conduit or cable would have equivalent current carrying capacity. It is necessary to keep these paralleled conductors in separate conduit or cables because of the heat buildup when more than 3 current carrying conductors are installed in one conduit (300.15(B)(2)(a))
