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Further setback to building Bellefonte Nuclear Plant

Plan to complete Bellefonte Nuclear Plant takes another step backward Al  Alabama, 24 Oct 18 By Paul Gattis | pgattis@al.com   Developers of Bellefonte Nuclear Plant got their strongest public indication Tuesday that its much-needed potential customer in Memphis isn’t interested.

And that rebuke appears to make it more likely that the mothballed plant in northeast Alabama will continue to sit unfinished while again facing a bleak and uncertain future.

Memphis Gas, Light & Water signed a non-binding letter of intent in January to purchase power when Nuclear Development LLC completes the plant in about 2024. But now under new leadership, Memphis Light is pushing away from Bellefonte.

“Since (Memphis Light) has not completed its due diligence with respect to the Bellefonte proposal and has not yet received independent feedback on a multitude of concerns, management believes that it is premature to negotiate and commit to the terms of a (power purchase agreement),” the document said.

Without a customer, Nuclear Development has said it throws an $8.6 billion loan application with the U.S. Department of Energy into jeopardy. And given that jeopardy, Nuclear Development may decline to complete the purchase from TVA of the plant in Jackson County – which is scheduled to close by Nov. 14.

In short, the deal to purchase and complete Bellefonte appears to hinge on the agreement with Memphis. Nuclear Development said in July it had a customer but declined to identify the client.

Nuclear Development has not responded to a request for comment from AL.com concerning its talks with Memphis.

At the Memphis city council meeting Monday, Memphis Light released a four-page document outlining its concerns for going into business with an unfinished plant as its power source and made its case for why it should walk away from the proposed deal………

· The fact that Bellefonte would be about 50 years old by completion is cause for concern……..https://www.al.com/business/2018/10/plan-to-complete-bellefonte-nuclear-plant-takes-another-step-backward.html

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October 25, 2018 - Posted by | business and costs, USA

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