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TVA says Bellefonte purchase misses closing date

By , Daily Memphian Published: December 02, 2018 12:13 AM CT
<strong>The Tennessee Valley Authority has called off the sale of the Bellefonte Nuclear Plant in northeastern Alabama to Nuclear Development LLC because the company failed to meet Friday's closing deadline.</strong>&nbsp;(Houston Cofield/Daily Memphian)

The Tennessee Valley Authority has called off the sale of the Bellefonte Nuclear Plant in northeastern Alabama to Nuclear Development LLC because the company failed to meet Friday's closing deadline. (Houston Cofield/Daily Memphian)

Tennessee Valley Authority officials have called off the sale of the Bellefonte Plant in northeastern Alabama at Friday’s deadline for Nuclear Development LLC to close on the purchase. TVA officials confirmed they called off the sale of the mothballed electricity-producing plant because Nuclear Development, owned by Chattanooga developer Franklin Haney, did not have the necessary approval from the federal Nuclear Regulatory Commission to transfer construction permits.

Topics

Bellefonte Nuclear Plant MLGW TVA

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Bill Dries

Bill Dries

Bill Dries covers city and county government and politics. He is a native Memphian and has been a reporter for more than 40 years.

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