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Anyone looking to buy a nuclear plant at a fraction of its cost?

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An unfinished nuclear power plant in northeastern Alabama is up for sale at a fraction of its cost. 

After spending more than 40 years and $5 billion on the plant, the Tennessee Valley Authority has set a minimum bid of $36.4 million for the Bellefonte Nuclear Plant and its waterfront property along the Tennessee River. 

 

The buyer will get two unfinished nuclear reactors, transmission lines, office and warehouse buildings, eight miles of roads, a 1,000-space parking lot and 1,600 acres of waterfront property. 

Initial bids on the property are due Monday and at least one company has expressed interest in the site. 

Tennessee Valley Authority spokesman Scott Fielder said the company doesn't care what the buyer does with the site. 

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FILE -- In this June 2, 2011 file photo, Tennessee Valley Authority's Bellefonte Nuclear Plant site is shown in Hollywood, Ala. On Thursday, May 5, 2016, the Tennessee Valley Authority board voted to sell the never-completed nuclear plant that has cost more than $4 billion dollars over the last four decades. (AP Photo/Eric Schultz, File)

Photo courtesy of the Associated Press. 

It's all about jobs and investment, and that's our primary goal for selling this property.
Scott Fielder

Work on the Bellefonte Nuclear Plant began back in the mid-'70s during the nuclear energy boom, according to site manager Jim Chardos.

The site was originally intended to house four reactors, but the demand for power in the area was never that high, so work halted in 1988.

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In this Wednesday, Sept. 7, 2016 photo, sit manager, Jim Chardos, shows the media the control room at the Bellefonte Nuclear Plant, in Hollywood, Ala. The sale of the unfinished plant is bittersweet for site manager Chardos, who went to work at Bellefonte in 1994 expecting it to be finished as a nuclear power plant. All these years later, he commutes 90 minutes each way to work to oversee a plant that has never been stocked with radioactive fuel or used either of its reactors to generate a single watt of electricity. (AP Photo/Brynn Anderson)

Photo courtesy of the Associated Press.

"If you're going to make 1,200 megawatts you need to sell it to somebody, and if there's no need for it you're not going to finish," Chardos said. "And that's really what's happened."

Those in the Hollywood, Alabama, area are hoping the potential sale of Bellefonte will create thousands of good-paying jobs, ones that were expected to come from the original plant. 

Tennessee Valley Authority hopes to close the deal by October. 


The Associated Press contributed to this report. 

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