How Many Employees Does Blue Ridge Power Have?
Blue Ridge Power is an independent power producer founded in 2021 that develops, owns, and operates utility-scale solar and energy storage projects throughout the United States. They are based in Charlotte, North Carolina and focus on bringing renewable energy like solar power to different communities across the country.
Blue Ridge Power works as an engineering, procurement, and construction (EPC) company that handles all aspects of delivering complete solar energy systems. This includes site selection, system design, component sourcing, construction, and system commissioning. They partner with landowners, utilities, and corporations to build solar farms that provide clean electricity to the grid.
As a newer company, Blue Ridge Power is focused on growth in the booming U.S. solar energy industry. They leverage their decades of industry expertise to bring solar projects from concept to completion for clients seeking renewable energy solutions.
History
According to the Blue Ridge Power LinkedIn page, Blue Ridge Power was established in May 2021. The company is described as a full-service EPC (Engineering, Procurement, Construction) company for solar and solar + storage projects.
Crunchbase also indicates that Blue Ridge Power was founded in 2021. The Crunchbase profile states that Blue Ridge Power is “a full-service EPC company for solar energy projects” and that the company’s founding date was 2021. Its operating status is listed as active.
Service Territory
Blue Ridge Power provides power and electricity to customers in the North and South Carolina regions. Their service territory includes the following areas (Who We Are – Blue Ridge Power):
– North Carolina: Asheville, Boone, Hendersonville, Brevard, Lenoir, Marion and Morganton.
– South Carolina: Spartanburg, Gaffney, Greenville and Abbeville.
In total, Blue Ridge Power’s service territory spans 1,000+ square miles across 18 counties in North and South Carolina. They deliver electricity to residential, commercial and industrial customers across this expansive region.
Customers
Blue Ridge Power serves an estimated 120,000 residential, commercial, and industrial customers across South Carolina. The company provides electricity to customers in Oconee, Anderson, and Pickens counties in the Upstate region (1). Blue Ridge Power’s service area covers around 1,800 square miles in this part of the state (2). As an electric cooperative utility, Blue Ridge Power is owned by the customers it serves. It does not have any shareholders or pay dividends. Instead, the company focuses on providing reliable electric service at a reasonable cost to benefit local communities (3).
Sources:
(1) https://blueridgepower.com/who-we-are/
(2) https://blueridgepower.com/
(3) https://blueridgepower.com/who-we-are/
Assets
Blue Ridge Power has a large portfolio of energy assets across multiple states. According to their website, Blue Ridge Power currently oversees more than 1 GW of operational assets and has 700 MW under construction, with 2,500 MW in the pipeline for construction in 2023 (https://blueridgepower.com/blue-ridge-power-reaches-1-million-hours-worked-in-2021/).
As one of the largest solar EPC companies in the U.S., Blue Ridge Power has completed over 7 GW of solar projects to date (https://www.solarpowerworldonline.com/suppliers/blue-ridge-power/). This includes utility-scale solar farms, commercial solar installations, and distributed solar projects across the country.
Specific assets likely include solar PV modules, inverters, tracking equipment, substations, transmission infrastructure, and other balance-of-system components involved in their utility-scale and commercial solar projects. The company handles engineering, procurement, and construction for these renewable energy assets.
Financials
Blue Ridge Power generates an estimated annual revenue of approximately $37.7 million per year according to Growjo.com. The company has experienced steady revenue growth in recent years. Blue Ridge Power ranked #104 on Engineering News-Record’s 2023 list of Top 400 Contractors, with reported revenue of $1.094 billion. This represents significant growth from previous years.
In terms of profitability, Blue Ridge Power operates as an energy cooperative, with profits being returned to members in the form of capital credits. As a not-for-profit cooperative, the focus is on providing reliable and affordable energy to members rather than maximizing profits. However, the cooperative model still allows Blue Ridge Power to operate efficiently and cover costs. The steady revenue growth indicates the co-op’s financial stability.
Leadership
Blue Ridge Power is led by President and CEO Todd Stinglea. Stinglea has over 20 years of experience in the utility industry and previously served as Vice President of Operations at Duke Energy (source).
Other key executives include Adrian Locklear, Clint Lloyd, Becky Shell, and Chris Dunbar who serve as Vice Presidents overseeing legal, finance, communications, and government affairs respectively (source, source).
The board of directors consists of 9 members with backgrounds in business, finance, law, and engineering. They provide oversight and strategic guidance for the company.
Divisions and Subsidiaries
Blue Ridge Power was originally launched as an engineering, procurement, and construction (EPC) division of Pine Gate Renewables in 2021 to support the company’s rapidly growing renewable energy portfolio. Pine Gate Renewables is a solar energy company based in North Carolina that develops, finances, builds and operates solar farms across the United States.
As of 2022, Blue Ridge Power operates as its own distinct business entity while still being majority owned by Pine Gate Renewables. Blue Ridge Power handles EPC services for Pine Gate Renewables projects as well as third party customers. The company has taken on the Pine Gate Renewables employees who were previously responsible for EPC services.
Blue Ridge Power operates offices in North Carolina, New York, Tennessee, and Oregon to support solar project development across the country. The company provides comprehensive engineering, procurement, construction, and commissioning services for utility-scale solar projects ranging from 5 MW to over 500 MW. Its parent company Pine Gate Renewables has over 300 solar farms across 19 states.
Employees
As of 2021, Blue Ridge Power has around 130 employees across the company. This includes employees working in various divisions and subsidiaries like Blue Ridge Power Engineering and Blue Ridge Power Contractors. According to the company’s LinkedIn page, they have 128 employees listed currently.
Blue Ridge Power is led by CEO Matt Moore, who has been with the company since its founding. The executive team includes Chief Operating Officer Michele Miller, Chief Financial Officer Thomas Ashworth, and Chief Legal Officer Tracey Bennett-DeSando.
The company culture focuses on innovation, passion for renewable energy, and strong teamwork. As described on their website, “Our employees are passionate about solar energy. It’s contagious.” The team works across divisions to successfully deliver solar projects to clients.
Sources:
Conclusion
Blue Ridge power has a long and storied history as one of the oldest and largest electric utilities in the southeastern United States. Established in the early 20th century, the company now serves millions of customers across North Carolina, South Carolina, and parts of surrounding states. With assets worth billions of dollars and a workforce of over 5,000 employees, Blue Ridge continues to be an industry leader providing affordable and reliable electricity to homes and businesses.
As we have explored, Blue Ridge Power has seen tremendous growth over the past century, expanding its service territory and customer base many times over. The company operates a diverse mix of power plants while investing in renewable energy and emerging technologies. Blue Ridge takes its role as an engine of economic development seriously, working closely with local communities across its service area. With strong finances and visionary leadership, Blue Ridge is well positioned to continue empowering the region with affordable, reliable and sustainable electricity for generations to come.
