The Tennessee Valley Authority has sold an unfinished nuclear power plant in north-east Alabama for 111 million dollars (£89 million).
Nuclear Holdings purchased the Bellefonte Nuclear Plant at auction, with a sale price more than three times the minimum bid. The company plans to finish the twin-reactor as a nuclear power plant and bring it online, which could mean billions of dollars in spending and hundreds of jobs in the Tennessee Valley.
Work began at the site in the mid-1970s, but the TVA never finished the two-reactor plant as demand for electricity waned. The utility said it has spent about 5 billion dollars at the plant. The purchaser gets two unfinished reactors, several buildings and 1,600 acres of land on the Tennessee River.
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