Blue Ridge Power, the North Carolina-based engineering, procurement and building subsidiary of photo voltaic developer Pine Gate Renewables, will reportedly lay off greater than 500 workers by November 18.
Credit score: Blue Ridge Energy
Blue Ridge Energy President David Sanders filed two Employee Adjustment and Retaining Notification (WARN) Notices with North Carolina Dept. of Commerce on September 18, completely shedding 169 and 348 workers at its Asheville and Fayetteville companies, respectively.
“Over the previous a number of months, the corporate has been impacted by elements past its management, together with evolving regulatory and capital market environments which have affected many different firms within the renewable vitality sector,” Sanders said within the filings.
Blue Ridge Energy unsuccessfully sought further financing to retain workers, in line with the filings. The corporate is winding down however not ceasing operations. Staff affected by the layoffs haven’t had their positions terminated but.
Pine Gate Renewables founded Blue Ridge Power in spring 2021 as its EPC arm. Blue Ridge Energy would deal with the developer’s building and operation of utility-scale photo voltaic tasks. In 2023 alone, Blue Ridge Energy installed 1.15 GW of photo voltaic, making it the eleventh highest-ranked firm on Photo voltaic Energy World‘s 2024 Top Solar Contractors List, with a complete put in capability of 4.3 GW as of that yr.
Pine Gate Renewables despatched Photo voltaic Energy World the next assertion:
“Blue Ridge Energy has skilled market headwinds just like these impacting the complete renewable vitality business, requiring Pine Gate Renewables to dedicate important sources to assist the group. After reviewing quite a few choices to discover a path ahead, Pine Gate made the tough determination to conduct an orderly wind-down of Blue Ridge Energy. Blue Ridge Energy will proceed to evaluate how finest to assist every of its ongoing tasks, together with working with its prospects to transition these tasks to a different EPC supplier. This determination on no account displays the laborious work or dedication of our valued staff members, and we’re deeply grateful for all of their contributions.”
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