The Tennessee Valley Authority has set the date for an auction to sell an unfinished nuclear power plant in northeast Alabama. The federal utility says the Bellefonte Nuclear Plant will be sold in a live auction on Nov. 14.
Minimum bids are set at $36.4 million, and one company has already said it’s offering more than that. TVA won’t release any details on potential buyers, so it’s unknown how may bidders might be interested in the plant. The agency says it has invested some $5 billion in the plant since construction began in the mid-1970s. But work was never finished as power demand leveled off.
The eventually purchaser will get 1,600 acres of land plus buildings that include two unfinished nuclear reactors.