A company owned by Washington, D.C.-based real estate developer Franklin Haney plans to invest up to $13 billion to complete the construction of nuclear units at the Bellefonte site in northern Alabama. Nuclear Development LLC won an auction held by the Tennessee Valley Authority, which deemed the site surplus property earlier this year. The developer bid $111 million for the 1,600-acre site with two partially completed 1,260-MW Babcock & Wilcox pressurized water reactors, which TVA had spent $5 billion to build before ending construction in 1988. Completing the reactors is set to create up to 4,000 construction jobs, Nuclear Development claims. It was one of three prequalified bidders that completed letters of intent before Nov. 14, when the final auction was held, said Scott Brooks, a TVA spokesman. He declined to name the others, citing a confidentiality agreement. TVA’s board voted last May to declare the site surplus and sell it.
DC Developer Wins TVA Auction To Complete Alabama Nuke Site
November 16, 2016