GCC power markets need flexibility, not just new capacity
Zawya · SA Kader ·
In an interview with Zawya Projects, Taimoor Zaman, Managing Partner and CEO of VpowerU explains why growing renewable energy capacity across the Gulf will require investment in storage, interconnectors and demand-side flexibility, and electricity market re-design.
Gulf power systems are entering a new phase as rising renewable energy capacity and electricity demand reshape the requirements for generation, storage and grid infrastructure.
While investment in new capacity remains essential, the growing share of solar power is increasing the need for flexible resources that can respond rapidly to changes in electricity supply and demand, according to Taimoor Zaman, Managing Partner and CEO of VpowerU.
Zaman, who advises stakeholders in Europe and the Middle East on power markets, market design and flexibility, and serves as an adviser to the Zero Emissions Traders Alliance (ZETA), said the region must move beyond electricity market structures focused primarily on procurement of megawatts or gigawatts and introduce mechanisms that recognise and reward flexibility.