Olivier Marquette, AES Bulgaria President, participated in the second edition of Plovdiv Economic Forum, held on 26-27 June 2019, in Plovdiv, Bulgaria. Within the energy panel of the Forum, Mr. Marquette presented the role of RES in the energy transition and AES’ policy for achieving it. He underlined that being a global energy company with a diversified portfolio, AES has committed not to develop coal-based projects in the future, but rather focus on RES, which are ‘close to revolution in the energy sector’.
In Mr. Marquette’s words, RES are here to stay and gas also has an increasing role to play in the energy transition. The EU climate policy and RES targets for 2020 and 2030 have been and still are strong political and administrative drivers of the fast RES inclusion in the EU energy sector. Mr. Marquette pointed out the role of Bulgaria being the second EU country to achieve its 2020 RES target. Even more important driver of the increasing presence of RES, according to Marquette, is the economic one. With the decreasing costs of renewables in the last decade, RES today are the cheapest way to produce electricity. However, they cannot provide predictability and there is an absolute need to ensure flexible generation without volatilities. This could be guaranteed in two ways: by using the thermal power plants or storage technology, which is also developing fast in the last years.
Mr. Marquette gave an example of TPP AES Galabovo, being the most modern power plant in Bulgaria and the first one built in the last 40 years in the SEE, meeting the EU environmental requirements and perfectly guaranteeing the security of supply balancing the RES production in the country and securing the energy transition. On the other hand, AES is also developing and has a good record of using storage parks together with RES, in other countries in the world, proving that innovations will bring the energy of the future in a secure and predictable way, Mr. Marquette underlined.
The Plovdiv Economic Forum was organized by Delphi Economic Forum, Greece, and the Center for Liberal Strategies, Bulgaria, for a second year in a row.
It was opened by the Prime Minister Boyko Borissov and a total 57 esteemed Bulgarian and foreign speakers took part in its program.