A North Carolina renewable energy company is planning to lay off over 500 employees as it winds down its business, according to documents filed with state officials.

Blue Ridge Power, an engineering company that designs and builds solar-power projects, said 169 employees will be terminated at its Asheville headquarters and 348 at its Fayetteville offices by Nov. 18. The layoffs are part of an effort to conduct an “orderly wind-down of the business,” the company said.

Blue Ridge Power said recent regulatory and business changes played a part in its decision.

“Over the past several months, the Company has been impacted by factors beyond its control, including evolving regulatory and capital market environments that have affected many other companies in the renewable energy sector,” the company said in a state filing signed by Blue Ridge president David Sanders.

His position was included in the list of 514 jobs to be terminated in the Worker Adjustment and Retraining Notification Act filings sent to the N.C. Department of Commerce and dated Sept. 18.

Blue Ridge Power, founded in 2021, counted over 700 employees before the planned downsizing, according to its LinkedIn page. It has built solar projects in 14 states, including several in North Carolina.