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Nevada Company Submits Bid for Unfinished Nuclear Plant

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HOLLYWOOD, Ala. (AP) — An alternative energy company from Nevada says it is bidding $38 million for an unfinished nuclear power plant in Alabama.

Phoenix Energy says it wants to produce electricity using a new method at the Tennessee Valley Authority's Bellefonte Nuclear Plant in Hollywood, Alabama.

The federal utility says it has invested some $5 billion in the plant since construction began in the mid-'70s. But work was never finished as power demand leveled off.

TVA says bidding opened Monday for the plant, but it isn't commenting on potential buyers. The utility says it hopes to close a deal for the plant in October.

The eventual purchaser will get 1,600 acres of land on the Tennessee River, two unfinished reactors, power lines, warehouse and office buildings, roads, a 1,000-space parking lot and more.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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