Haney wins bidding contest for abandoned nuclear plant

Former Chattanooga developer wants to finish Bellefonte plant

photo An unfinished nuclear power plant in northeast Alabama.

HOLLYWOOD, Ala. - Chattanooga developer Franklin L. Haney, who has spent the past decade trying to acquire TVA's Bellefonte Nuclear Power plant, emerged today as the winner at an auction of the abandoned nuclear plant.

Haney, who organized an investment group known as Nuclear Development LLC, agreed to pay $111 million to acquire the abandoned twin-reactor complex and the 1,600 acres it occupies along the Tennessee River here.

Haney said he hopes to finish Bellefonte, creating between 3,000 and 4,000 temporary construction jobs, and an estimated 2,000 full-time jobs once both reactors become operational.

Haney and his delegation, which included former Alabama Congressman Bud Cramer, declined to outline any schedule for restarting work on the plant or when it might generate power.