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TVA sets auction date for unfinished nuclear plant

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The Tennessee Valley Authority's unfinished Bellefonte Nuclear Plant near Hollywood, Ala. (Photo courtesy: TVA Photo/ Tennessee Valley Authority)

CHATTANOOGA, Tenn. (AP) _ The Tennessee Valley Authority is giving up on a project that was supposed to become one of its biggest nuclear power plants.

The Chattanooga Times Free Press (http://bit.ly/2djqaZc ) reports TVA is selling the 1,400-acre site in northeast Alabama.

TVA said Friday it set a Nov. 14 auction date to sell its unfinished Bellefonte nuclear power plant.

TVA directors declared the unfinished nuclear plant to be surplus property earlier this year _ 43 years after construction began on the complex. The utility says the primary goal in selling the site is to provide the best long-term economic return to surrounding communities.

The minimum bid price is $36.4 million _ the property’s appraised value. TVA invested more than $5 billion in capital and interest costs at Bellefonte since work began in 1973.