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US nuclear plant up for sale at fraction of cost

6 years 4 months 2 weeks ago Sunday, September 11 2016 Sep 11, 2016 September 11, 2016 11:19 AM September 11, 2016 in News
Source: Associated Press
By: APNewsNow

HOLLYWOOD, Ala. - The nation's largest federal utility is selling an unusual piece of property: An unfinished nuclear power plant in northeastern Alabama.

The Tennessee Valley Authority has set a minimum bid of $36.4 million for its Bellefonte Nuclear Plant and 1,600 surrounding acres on the Tennessee River.

The buyer gets two unfinished reactors, transmission lines, office and warehouse buildings, roads, a 1,000-space parking lot and more.

TVA has spent about $5 billion on the site over the last 40 years, but it doesn't plan to finish the plant because of flat demand for electrical power. The utility says the facility could still be finished as a power plant, but it could also become an industrial, residential or recreational site.

Bidding starts Monday, and TVA hopes to sell the plant in October.

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