TVA board votes to sell Bellefonte nuclear plant to highest bidder

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

NASHVILLE, Tenn. (AP) – The nation’s largest public utility is selling a never-completed nuclear plant that has cost more than $4 billion dollars over the past four decades.

The Tennessee Valley Authority board voted Tuesday at a meeting in Buchanan to declare the Bellefonte nuclear plant near Hollywood, Alabama, surplus. The site includes two partially finished nuclear reactors, railroad spurs and a helicopter pad.

TVA President and CEO Bill Johnson says the 1,600 acre site will be sold at auction to the highest bidder. It has been appraised at $36 million.

The decision to sell is the latest blow to the nuclear power industry, which seemed poised for resurgence a decade ago but has been stymied by cheap natural gas, high construction costs and relatively flat demand for power.