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.

“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 law intended to give workers advance notice to plan job transitions. WRAL received the letter this week through a public records request.

Sanders told state officials that the company planned to cut 348 positions — including laborers, electricians, foremen and equipment operators — at its Fayetteville office. Another 169 positions — mostly executives and managers — are to be cut in Asheville, where Blue Ridge is based. The layoffs were expected to occur by Nov. 18.

Blue Ridge, a unit of Pine Gate Renewables, provides solar engineering, site design, procurement, construction and management services for commercial solar customers. Pine Gate said it is working with Blue Ridge’s customers to transition ongoing projects to other contractors.

The wide ranging tax-and-spending bill backed by President Donald Trump approved by Congress in July rolled back clean energy tax incentives and phases out federal support for electric vehicles, rooftop solar and home energy efficiency upgrades. The changes are expected to reduce customer demand and increase costs for manufacturers.

It wasn’t immediately clear whether those particular changes prompted the decision to close Blue Ridge.

“Blue Ridge Power has experienced market headwinds similar to those impacting the entire renewable energy industry, requiring Pine Gate Renewables to dedicate significant resources to support the organization,” a Pine Gate spokesperson said in a statement.