In this Wednesday, Sept. 7, 2016 photo, two cooling towers can be seen at the Bellefonte Nuclear Plant, in Hollywood, Ala. After spending more than 40 years and $5 billion on an unfinished nuclear power plant in northeastern Alabama, the nation's largest federal utility is preparing to sell the property at a fraction of its cost. (AP Photo/Brynn Anderson)
The Associated Press
HOLLYWOOD, Ala. (AP) - An alternative energy company from Nevada says it is bidding $38 million for an unfinished nuclear power plant in Alabama.
Phoenix Energy says it wants to produce electricity using a new method at the Tennessee Valley Authority's Bellefonte Nuclear Plant in Hollywood, Alabama.
The federal utility says it has invested some $5 billion in the plant since construction began in the mid-'70s. But work was never finished as power demand leveled off.
TVA says bidding opened Monday for the plant, but it isn't commenting on potential buyers. The utility says it hopes to close a deal for the plant in October.
The eventual purchaser will get 1,600 acres of land on the Tennessee River, two unfinished reactors, power lines, warehouse and office buildings, roads, a 1,000-space parking lot and more.
In this Wednesday, Sept. 7, 2016 photo, birds fly around and inside one of the two 500-foot cooling towers at the Bellefonte Nuclear Plant, in Hollywood, Ala. After spending more than 40 years and $5 billion on an unfinished nuclear power plant in northeastern Alabama, the nation's largest federal utility is preparing to sell the property at a fraction of its cost. (AP Photo/Brynn Anderson)
The Associated Press
In this Wednesday, Sept. 7, 2016 photo, large pipes inside the Bellefonte Nuclear Plant, can be seen, in Hollywood, Ala. After spending more than 40 years and $5 billion on an unfinished nuclear power plant in northeastern Alabama, the nation's largest federal utility is preparing to sell the property at a fraction of its cost. (AP Photo/Brynn Anderson)
The Associated Press