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. The utility, the Tennessee Valley Authority, has set a minimum bid of $36.4 million for its Bellefonte Nuclear Plant and 1,600 surrounding acres of waterfront property on the Tennessee River. The utility hopes to close the deal in October. Work began at Bellefonte in the mid-1970s, toward the end of the nuclear energy boom, said Jim Chardos, the site manager. Advertisement Continue reading the main storySales of nuclear plants are not all that unusual; the Nuclear Energy Institute, an industry group, says at least 30 units have been sold in part or in whole since 1999.

Source: New York Times September 11, 2016 22:52 UTC