The Business Year

Felipe Camargo

COLOMBIA - Green Economy

Felipe Camargo

General Manager, GreenYellow

Bio

Felipe Camargo is the General Director of GreenYellow in Colombia. With more than 20 years of experience, prior to joining GreenYellow team, he was regional manager of AAGES, general manager of Sacyr Industrial in Colombia, Central America, and the Caribbean, and general manager of Abengoa Colombia. He has experience in more than 15 countries developing EPC and concession-type projects in the energy and water sectors, in both the public and private sectors.

GreenYellow has been working on energy efficiency and solar energy projects in Colombia for 10 years now, accumulating extensive technical experience in the process.

What is GreenYellow’s area of expertise and what is the company’s mission?

GreenYellow specializes in three lines of business. The first is the generation of photovoltaic energy, which we perform through two formats: the sale of self-consumption projects where GreenYellow assumes the project’s investment and the customer pays a lower rate than the one offered by the grid operators; and the sale of clean energy from the solar plants that we own and are building in the country. The second line is energy efficiency, which focuses on helping our customers consume their energy in a smart and efficient way. With this service, we can reduce energy consumption between 20 and 35% in various types of industries by installing various types of equipment according to the industry and then optimize and monitor consumption according to every day’s sunlight, temperature, and so on. We invoice a portion of the savings obtained by our customers; our customers do not have any initial costs, and we recover all the investment made only through sharing our costumer’s energy savings with them. It is the perfect representation of a win-win scenario, so GreenYellow is not the client’s counterparty; it is the client’s solidary partner and all incentives are aligned between the two companies. The third line is Utility as a Service, where we offer energy in different representations other that electricity such as: refrigeration, air conditioning, steam, heat, and other thermal energies. Thanks to our business model, our client only pays a monthly fee for an all-inclusive service for a period of time determined by a contract, without investing capital. In Colombia, Utility as a Service is a business line that was developed with our own methods of innovation, and was then replicated to other countries within GreenYellow’s footprint. Today, it represents a large percentage of our annual investments.

How does GreenYellow help its customers achieve their sustainability goals?

In the past, to meet ESG criteria, companies had to invest and spend more money in order to be able to say they were sustainable. Today, they can be sustainable and save money at the same time. For example, with our Utility as a Service business line, in refrigeration, we help companies reduce their carbon footprint drastically by transitioning to natural refrigerants with low global warming potential. This helps our customers to insert themselves in international treaties such as the Montreal protocol, the Paris agreement, amongst others.

What is GreenYellow’s track record internationally and what makes you experts?

GreenYellow was founded in France over 15 years ago. The main activity of the company has traditionally been energy optimization through our services where our clients achieve independence, savings and sustainability. We have been working on energy efficiency and solar energy projects in Colombia for 10 years. The company has accumulated an outstanding technical experience and has already gone through the entire learning curve. 

In which sectors do you focus on business development?

We focus on sectors that have large energy consumption. At the beginning, we focused on retail but we have also worked in heath infrastructure, industrial facilities, food refrigeration, logistics and many more. All sectors want to and can save energy, and our business is applicable to any industry.

What are GreenYellow’s objectives in terms of business development and market leadership?

GreenYellow is one of the leaders in energy optimization and energy transition in the country. The cornerstone of our business is the financial solvency of the company; it differentiates us from the competition in several ways. First, our profits and earnings are based on the savings of our customers. Secondly, we guarantee savings and this makes us offer an extremely differentiated proposal in the market, and to be leaders in the market and carry out our plan, we are always thinking about how to differentiate ourselves from others, with innovation. Today, we have a strong and innovative team that will thrive the company towards differentiating more and more every day from our potential competition. 

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