TVA says a deal for former Chattanooga businessman Franklin Haney to buy the unfinished Bellefonte Nuclear Plant in Alabama for $111 million is off.
TVA officials said, “On Nov. 30, 2018, the parties were unable to complete the sale of the Bellefonte property after Nuclear Development’s lack of progress in meeting its legal obligations related to future ownership of the site. Nuclear Development did not complete the necessary NRC license transfer prior to the closing date as required by the Atomic Energy Act.”
Mr. Haney responded by filing suit against TVA for breach of contract.
TVA scrapped the plant in 1988 after saying the cost was too great to continue.