A North Carolina solar power company plans to wind down its business and cut more than 500 jobs in the state — including about 350 in Cumberland County.

Blue Ridge Power said in a notice to state officials that factors beyond its control — including regulatory changes affecting renewable energy companies and shifts in the capital markets — prompted its decision.

Other WRAL Top Stories

“While numerous options were evaluated in an effort to find a path forward for the company, including seeking additional financing, the challenges were significant, leaving no other choice but to proceed with conducting an orderly wind-down of the business,” Blue Ridge Power President David Sanders said in a Sept. 18 letter to the state Department of Commerce.

The notification was required under a federal

See Full Page