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TVA BEING SUED BY DEVELOPER OVER ALABAMA UNFINISHED NUCLEAR PLANT SALE

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A developer trying to buy an unfinished nuclear power plant in Alabama has sued the Tennessee Valley Authority, accusing the federal utility of illegally blocking the sale Attorneys for developer Franklin L. Haney accused TVA on Friday of breach of contract for not completing the sale of the plant, located in Hollywood, A, to Haney’s Nuclear Development LLC. Haney submitted the winning $111 million purchase offer in a 2016 auction and was scheduled to close the sale Friday. TVA says that Haney has not gotten permission to transfer permits to the US Nuclear Regulatory Commission. Haney counters that the transfer of those permits does not violate NRC rules.

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