Test your ac adapters, your Genesis and your Sega CD each need one. Make sure your using the right ac adapter, the model 1 CD uses the same one the model 1 Genesis does. Make sure the connector on the Genesis is clean, if possible try a different Genesis, make sure there's no cartridge in the Genesis.
If that doesn't work you might need to look at the solder points on the power connector. If the board is getting power, sometimes TR4 will blow if the fuse blows, and the voltage regulator can also be blown out. If not, could be another component, could be leaking capacitors, you'd have to start testing with a multimeter to figure it out.