Nuclear Development has 7 more months to close the deal on Bellefonte Nuclear Plant

Northeast Alabama
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HOLLYWOOD, Ala. – Bellefonte Nuclear Plant in Hollywood is still causing a lot of talk in Jackson County. Franklin Haney of Nuclear Development LLC purchased the old plant back in 2016 from the Tennessee Valley Authority.

He has until November 2018 to seal the deal, and the process consists of a lot more than that initial purchase. “One of the primary things that’s going on is there’s a Department of Energy Loan Guarantee Program. Our federal budget hasn’t been passed since 2010 I believe,” said Senator Steve Livingston.

These federal dollars from the Department of Energy are needed greatly for the start-up of a nuclear plant. “Mr. Haney has qualified at this point in time for initially roughly a half of that $13 billion,” said Senator Livingston. “So that’s important for the fact that it will take money to make sure this plant is up and operative.”

While Nuclear Development works with officials in D.C. to get this loan process approved, state lawmakers are on standby. “We’ve got some state incentives that we’d like to offer him at some point in time, but we’re kind of waiting to see on the other side of what happens in DC.”

With only seven months to go, Senator Livingston says they’re feeling very positive about the closing. “We’ve jumped through a lot of hoops. He’s spent a lot of his own money doing studies and plans that the DOE’s required him to do in order to make this plant even viable.”

He says this is one of the best attempts they’ve had at reviving a plant like Bellefonte.

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