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Energy firm with alleged Trump ties wants Memphis Light, Gas and Water to switch to unfinished nuclear power plant

Energy firm with alleged Trump ties wants MLGW to ditch TVA for its unfinished nuclear plant, Biz Journals By Samuel Hardiman  – Staff Reporter, Memphis Business Journal, 10 Oct 18 

A private company seeking to finish a shuttered nuclear power plant in Alabama pitched the plant’s still-nonexistent power supply to the Memphis City Council Tuesday as a potential replacement to Memphis Light, Gas and Water (MLGW) receiving power from the Tennessee Valley Authority (TVA).

Nuclear Development LLC said MLGW could save $400 million annually if it purchases power from the Bellefonte Nuclear Generating Station instead of from the TVA.

The plant in the north Alabama town of Hollywood could be complete by 2024 if the company receives the federal funding it’s seeking……….

Franklin Haney, a Chattanooga developer who is a principal with Nuclear Development, has come under scrutiny after allegedly offering President Donald Trump’s former associate, Michael Cohen, $10 million if he could help Haney land the federal loan.

MLGW is one of TVA’s largest customers. It accounted for 10 percent of the power provider’s operating revenues in 2017, according to filings with the Securities and Exchange Commission. https://www.bizjournals.com/memphis/news/2018/10/09/energy-firm-with-trump-ties-wants-mlgw-to-leave.html

October 11, 2018 - Posted by | secrets,lies and civil liberties, USA

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