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In spite of the discontinuous nature of solar energy, concentrated solar power (CSP) plant with thermal energy can not only stabilize output but also be operated as a peak load regulation plant in a multi-energy system. This work demonstrates the dynamic characteristics of the key heat transfer components and thermal transport processes of a solar power tower (SPT) plant with thermal energy storage, which is operated under the disturbances of external environment and electricity demand. A 50MW commercial power tower plant is chosen as the study object. Detailed systematic dynamic models based on two modelling method of essential sub-systems are developed, implemented, and integrated into TRNSYS to improve the reliability of simulation as well as the prevision accuracy. The model is completed with a control strategy that regulates the water level in the evaporator efficiently. System-level simulation is conducted by two time scales, during a couple of minutes, and on a couple of hours. It is shown that the model can provide theoretical reference data for the unit operating characteristic analysis, predict the trend of the plant thermal characteristics. The thermal transport characteristics in the steam generation system and steam turbine have been revealed, which is useful for the study of regulatory mechanisms for a peak-shaving plant. [ABSTRACT FROM AUTHOR]