In the midst of a global shift to sustainable energy and a greener future, Saudi Arabia is committed to accelerating this shift towards clean energy and achieving net zero goals as part of its Vision 2030 roadmap. One of the companies from our expansion network, Yellow Door Energy, founded in 2015 by Jeremy Crane, has become a vital player in the global renewable energy and clean technology sectors, sitting on a growing portfolio of projects and a solid investment plan. We spoke with Crane on the occasion of our 600 Forward event, as we recognized Yellow Door Energy as a key driver of growth in Saudi’s energy sector.
Besides Saudi Arabia, the energy leader has operations in the UAE, Jordan, Pakistan, Bahrain, and South Africa. Currently, it covers one of the largest commercial and industrial project portfolios in the region, with 580,000-megawatt hours of clean energy generated as of late. Looking ahead, Yellow Door Energy is prepared for even greater impact, with plans to embark on massive projects totaling a staggering $1 billion in investment. Since its inception, it has cultivated relationships with over 50 clients, including multinational corporations such as Majid Al Futtaim, DHL, Mondelēz, Nestlé, and Unilever, underscoring its status as a trusted partner in the pursuit of sustainable energy solutions.
Yellow Door Energy is well-positioned to make significant strides in phasing out coal in favor of clean energy, with the impetus being to help enterprises meet their sustainability goals and provide sustainable energy solutions to the industrial and commercial Saudi market. “Given Saudi Arabia’s energy goals of reaching net zero by 2060, the most exciting prospects include integrating renewable energy solutions into energy-intensive sectors, particularly mining, cement, and heavy industries,” said Jeremy Crane, CEO and founder of Yellow Door Energy.
Thanks to its diversification program, Saudi Arabia is striving to become one of the most competitive economies globally, with renewable energy being an integral part of that vision. Under its National Hydrogen Strategy, it is also targeting more than $36 billion in investments to transform into the world’s biggest supplier of hydrogen, a key enabler in achieving net zero goals not only in Saudi Arabia but across the globe.
The country’s shift to renewable energy use rose in tandem with the increased adoption of electric vehicles (EVs), aligning with its efforts to cut carbon emissions from the transportation sector and ramp up the production of local EVs. It also comes at a time when the country is looking to carbon-capture 44 million tons a year by 2035.
To further improve its business expansion drive, Yellow Door Energy established its Saudi office using our on-ground team’s support. On its collaboration with us, Crane said: “Establishing an office in Saudi Arabia was significantly facilitated by the AstroLabs’ team in KSA. From the initial stages onwards, AstroLabs played a pivotal role in helping us navigate the complexities of entering the Saudi market, contributing to the building of a strong foundation for the company in Saudi Arabia.”
Chiefly, Yellow Door Energy offers a diverse range of solutions to help businesses take control of their energy waste, resulting in lower energy costs and enhanced power reliability. It also assists businesses in converting electricity from an on-grid system to a solar plant, entirely managed by Yellow Door Energy.
“Yellow Door Energy, with this diverse range of tailored on-grid and off-grid solutions, recognizes the immense potential of providing sustainable power solutions to these industries. We are contributing to the kingdom’s clean energy targets and enhancing the energy efficiency and environmental sustainability of these critical sectors,” Crane added.
Saudi’s Energy Sector: Growing Emphasis on Sustainability
The Kingdom is quickly setting aggressive sustainability targets and embracing new modes of clean energy. These efforts serve as the catalyst for the emergence of landmark projects and initiatives enabling a faster transition to a green economy as well as improving the country’s energy mix. In the same vein, the country has a couple of projects in its pipeline to grow its footprint, in alignment with Vision, which includes a 50 percent renewable energy target by 2030, with a keen focus on localizing its renewable energy sector.
Another notable manifestation of the country’s growing emphasis on sustainability is its “Saudi Green Initiative” (SGI), which constitutes the prime pillar in the country’s pursuit of renewable energy transition. Tackling climate change involves not only shifting away from fossil fuels and lowering carbon emissions; as per the SGI, the country will be able to rehabilitate 40 million hectares of land and plant 10 billion trees.
Upcoming mega events such as the Riyadh 2030 Expo also highlight the Kingdom’s focus on building a green economy. The $7.8 billion Expo, will adopt renewable energy with zero carbon emissions to build the infrastructure required to 246 official participants. This scenario calls for businesses to extend their innovative solutions to the Kingdom, catering to the increasing demand for sustainable products and practices within Saudi. The influx of sustainable and climate-conscious companies into these mega-projects indicates that Saudi Arabia is perceived as a global testbed for energy innovation.
The country is also gearing up to host the Saudi Energy Convention in May this year, the first of its kind to focus on renewable energy, green hydrogen, and water technologies. The gathering will offer the opportunity for stakeholders to forge collaborative actions to meet decarbonization goals and unlock opportunities for growth and innovation.
Earlier this month, Prince Abdulaziz bin Salman, the Saudi energy minister, met with Claire Coutinho, the UK’s secretary of state for energy security and net zero, as they discussed sector-specific cooperation opportunities. According to the Saudi Press Agency, discussions centered around developing comprehensive standards for clean hydrogen, cutting emissions at source, and establishing regulations and policies for the capture, transportation, and storage of carbon dioxide.
Yellow Door Energy’s mission is to be a sustainable energy partner for breakout companies by enabling them to effectively manage their energy waste. This falls in line with the net zero emission targets set by Saudi Arabia and the rest of the world to address the challenges stemming from climate change.
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