Nevada Company Interested in Unfinished Alabama Nuclear Plant

Andrew Yeager | May 9, 2016

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1673503810 
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A Nevada company says it wants to buy an unfinished nuclear power plant in northeast Alabama.

The Tennessee Valley Authority owns the Bellefonte Nuclear Plant in Hollywood and started construction in 1974. The utility spend more than $4 billion on it since then but it never produced any power. The utility determined they don’t have a need for such a large generating facility and decided Thursday to sell it to the highest bidder.

Phoenix Energy of Nevada says it wants to buy to the plant to produce power through an electromagnetic induction process, which a company executive says would be far cheaper than nuclear power. The 1,600 acre site includes two partially-completed nuclear reactors, rail lines, office buildings and a helicopter pad. TVA says it appraised for $36 million.

Photo by Mandarax