A leading solar energy development firm in North Carolina is closing its Asheville plant and laying off more than 78% of its workforce as it files for bankruptcy due to renewable energy policy changes under the Trump administration.
Pine Gate Renewables in Asheville filed a Worker Adjustment and Retraining Notification report with the state on Friday, saying that 223 people in Buncombe County will be impacted by the closure of its Asheville facility. The site will shutter starting on Jan. 5, according to the WARN database.
The WARN notice follows Pine Gate’s Thursday filing for Chapter 11 bankruptcy protection, and its plan to sell its assets and operations.
According to the filing, the bankruptcy and layoffs are both ripple effects from several policies enacted by President Donald Trump, who has heavily criticized renewable energy projects.
“With respect to the renewable energy industry, legislative and regulatory challenges have significantly slowed solar power development,” the filing said. “In combination, these forces have put extreme pressure on Pine Gate’s liquidity and overall financial position.”
High tariffs were placed on almost all materials needed to build large-scale solar projects, which increased overall costs, Pine Gate said.
The elimination of tax credits for wind and solar energy with the passing of the Big Beautiful Bill also increased project costs, Pine Gate said, and decreased interest in solar investment. These factors, along with high interest rates and inflation, have decreased the value of Pine Gate’s solar fleet and made it hard for the company to raise additional funds, the filing said.
Pine Gate now has more than $1.3 billion in permanent debt across its portfolio.
In the bankruptcy filing, Pine Gate notes that it employees 284 people in the U.S. with about 24 contract workers. Most of its workers are in Buncombe County.
Because Pine Gate is in the process of selling its assets, some employees may be able to continue working for new owners, but that’s an outcome the company can’t predict, according to the WARN report.
If no one is hired, all 223 people will be laid off. The layoffs and facility closure will take place between Jan. 5-19.
Renewable energy is a growing industry in North Carolina’s economy. The state has over 7,300 jobs in the solar sector and ranks fifth in the U.S. for total installed solar capacity, according to the Solar Energy Industries Association.
About Pine Gate
Pine Gate was founded in 2016, and at its peak employed over 1,000 people.
It has 107 projects with three gigawatts of power capacity, which could power over almost 2.3 million homes. Pine Gate also has over 130 projects in development, which would have over 30 gigawatts of capacity if completed.
In 2024, the company began to see financial challenges that increased this year. Pine Gate attempted to find potential project buyers and other forms of investment but nothing materialized.
“It became clear that the company would run out of money in the latter half of 2025 absent further financing,” according to the bankruptcy filing.
Prior to filing for bankruptcy, the company’s most recent move to balance its finances including closing its subsidiary Blue Ridge Power.
Pine Gate founded Blue Ridge in 2021 as an engineering, procurement and construction division. In October, Blue Ridge laid off 517 employees — North Carolina’s second-largest layoff this year.
As part of the bankruptcy, Pine Gate is entering into a sales process that would “transition ownership of its solar and energy storage project fleet while preserving jobs and maximizing value,” according to a news release.
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