SolarQuarter Middle East interviewed Jeremy Crane, CEO, Yellow Door Energy and got valuable insights on the company’s achievements and milestones along with its future expansion plans to make the Middle East region solar sufficient.
Please let us know the purpose of launching Yellow Door Energy in 2015. What was the aim and vision behind the same?
Yellow Door Energy was founded in 2015 to provide businesses with reliable, efficient and sustainable energy through solar agreements, also known as solar power purchase
agreements. Yellow Door Energy finances, designs, builds, commissions, operates and
maintains the solar plant for the business. Today, we have over 110 megawatts of solar projects in the UAE, Jordan, Saudi Arabia and Pakistan, making us the leading solar developer in this region.
With presence currently in KSA, Jordan and Pakistan, are there any plans of expansion in other countries in the Middle East?
We are assessing opportunities in Bahrain and look forward to helping businesses in the Kingdom switch to clean energy and reduce electricity costs. Saudi Arabia is a vast market, and we hope to make more inroads once the net billing law is implemented. Our Pakistan operations are growing quickly, so we look forward to supporting businesses outside of Lahore and surrounding regions.
How do you think the Renewable Energy sector is going to be/perform in the next 5 years in the Middle East?
In the next 5 years, I believe most rooftops in the Middle East will be adorned with solar panels. Firstly, the price for solar has fallen significantly, specifically 82% in the last decade, making solar cheaper than new coal. Secondly, there have been calls for tariff reforms, as electricity subsidies cost GCC countries more than $120 billion in the past 20
years. Lastly, countries in the region recognize the importance of sustainability and preserving the environment for future generations.
Read the full interview here: https://solarquarter.com/2020/11/13/solarquarter-middle-east-sept-oct-2020/