TVA selling unfinished nuclear plant in northeast Alabama

Markets Associated Press

The nation's largest federal utility is selling an unfinished nuclear power plant in northeast Alabama.

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The Tennessee Valley Authority utility says it will hold an auction Monday for the Bellefonte Nuclear Plant. Minimum bids are set at $36.4 million, and one company has already said it's offering more than that.

The utility says it wants the property used in a way that will benefit the surrounding economy of the Tennessee Valley.

Work began at the site in the mid-1970s, but the utility never finished the two-reactor plant as demand for electricity softened.

The purchaser will get buildings and 1,600 acres of land on the Tennessee River.