Auction winner plans to finish Bellefonte nuclear plant, generate power [photos]

Chattanooga developer Franklin L. Haney agrees to pay TVA $111 million for Alabama facility within next two years

Staff Photo by Dan Henry / The Chattanooga Times Free Press- 11/14/16. Franklin Haney, representing his company Nuclear Development, LLC., bids against Aaron Abadi, the CEO of National Environmental Group representing Jackson Holdings, during an auction of Tennessee Valley Authority's Bellefonte Nuclear Power Plant in Hollywood, Alabama, on Monday, November 14, 2016. Nuclear Development, LLC., won the auction with a bid of $111,000,000.00 entering them into a contract to purchase the currently non-operational power plant. The purchasers stated in a press release that the project is expected to require an additional investment of up to $13-billion to complete and will create over 3,000 temporary construction jobs and an estimated 2,000 full time jobs when fully operational.

Bellefonte history

Bellefonte starts and stops* 1974 - Construction permit issued and building begins* 1985 - Construction halted on Unit 2, then 55 percent complete* 1988 - Construction halted on Unit 1, then 88 percent complete* 1992 - Engineering work resumed to prepare for restart of construction* 1994 - Stone & Webster estimates finishing Bellefonte will cost $2.6 billion. Engineering work halted* 1996 - TVA studies option of converting plant to combined-cycle, natural gas* 1998 - Gas conversion option dropped. TVA offers plant to the Department of Energy to make bomb-grade tritium.* 1998 - DOE picks existing TVA plants to produce tritium.* 2001 - Texaco proposes using Bellefonte as site for coal gasification plant.* 2001 - Chattanooga financier Franklin Haney offers to finance completion of Bellefonte as a nuclear plant.*