trouble replacing bower/npm with yarn

I should start by saying that that I'm not that experienced with front end tools and frameworks but have done some work with angularjs and jquery, so I'm sorry in advance if I'm asking something obvious and stupid.

I'm working on a rails 4 + angularjs(1.2.9) project and it is using bower and npm for package management, the basic folder structure is

project
   |-angular
      |-app
         |-components
               |-angular
                     |-.bower.json
                     |-angular.js
      |-node modules
      |-.bowerrc
      |-.package.json
      |-component.json
   |-rails app

I'm trying to use yarn to replace npm and bower and from what I read here I should be able to use this bower-away package to fetch the yarn equivalent packages for the transition,

but it looks like this needs a root .bower.json file for the list of bower components inside the /project/angular/app/components folder because when I run bower-away I get the following response,

# Browse to project directory

Current directory does not contain bower.json

Please browse to directory that contains your project to convert.

Please call bower-away once more when you're done with this!

Should I just create a .bower.json file and add every package from the components folder to make this work or are there any other approaches to this?

EDIT 1

I forgot to add that there is a component.json file that lists most of the packages inside components folder.