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For auction – Abandoned nuclear reactor complex in Alabama

TVA sets auction date for Bellefonte nuclear power plant, Abandoned twin-reactor complex in Alabama to go on block Nov. 14, Times Free Press, 

October 14th, 2016by Dave Flessner Nearly a half century after the Tennessee Valley Authority assembled a riverfront parcel in Northeast Alabama to build what was supposed to be one of its biggest nuclear power plants, the federal utility is giving up the project and selling the 1,400-acre site next month for a mere fraction of the more than $5 billion it has spent on the facility.

TVA said Friday it has set an auction date of Nov. 14 at 9 a.m. central time to sell its unfinished Bellefonte nuclear power plant. Concentric Energy Advisors Inc., a property consulting firm TVA hired this spring to market the 1,400-acre power plant site on the Tennessee River in Hollywood, Ala., will conduct the sale at the plant site.

TVA directors declared the unfinished nuclear plant to be surplus property earlier this year — 43 years after construction began on the twin-reactor complex. TVA said in a statement Friday the “primary goal in selling the site is to provide the best long-term economic return to the surrounding communities.” The minimum bid price is $36.4 million, which is the appraised value of the riverfront property, but the bids will be evaluated on both the price offered and the economic gains any sale would generate for the region.

TVA has invested more than $5 billion in capital and interest costs at Bellefonte since work began on two Babcock and Wilcox reactors in 1973. Work was suspended in the 1980s when TVA’s growth in power demand slowed and TVA determined it didn’t need either of the 1,200-megawatt units…….http://www.timesfreepress.com/news/business/aroundregion/story/2016/oct/14/tva-sets-bellefonte-nuclear-plant-auction-date-next-month/392167/

October 18, 2016 - Posted by | business and costs, USA

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