By Sherri Blevins
The fate of the building known as the Bellefonte Nuclear Plant is once again unknown. TVA recently surrendered its construction permit to put the dream of adding a nuclear power plant to the valley dead in the water.
For almost fifty years, many believed that the two twin towers standing in the sight of the B.B. Comer Bridge would generate nuclear power and an economic boom to the Jackson County area. Construction of the power plant began in the 1970s but came to a standstill in the 80s. Plans were put on hold for the plant until 2016 when TVA put the plant up for public auction.
Franklin Haney, a real estate developer from Tennessee, agreed to purchase Bellefonte for $111 million. However, the sale was never finalized and ended in a lawsuit in federal court when TVA backed out of the agreement stating that Nuclear Development, LLC (Haney’s company) failed to fulfill the regulatory requirements needed to purchase the property.
After TVA refused to close the sale, Nuclear Development went to court. Nuclear Development LLC accused TVA of illegally pulling out of the $111 million sale a day before the scheduled closing of the sales agreement.
During the trial, Nuclear Development argued that TVA blocked the sale at the last minute because of concerns that Nuclear Development could finish Bellefonte and deliver power at a lower cost. According to news reports, lawyers at the trial said that a TVA official decided to pull the plug at the last minute after realizing that Memphis, TVA’s largest customer, might be lost if TVA sold Bellefonte to Nuclear Development.
On the other hand, TVA argued it couldn’t complete the agreement because Nuclear Development failed to get the Nuclear Regulatory Commission’s approval to transfer the construction permits. Lawyers for TVA wrote, “Who is at fault for the NRC being unable to decide on Nuclear Development’s permit transfer application by that closing date? The blame rests entirely with Nuclear Development.”
After all was said and done, a federal judge ruled that TVA did not breach its contract to sell Bellefonte Nuclear Plant to Nuclear Development. Still, it did have to repay $22 million to Nuclear Development, refunding its downpayment.
Senator Steve Livingston responded to TVA’s recent decision to withdraw the construction permit. According to a Yellowhammer article by Dylan Smith, Senator Livingston stated, “The news of TVA surrendering the construction permit on the Bellefonte Nuclear Plant is extremely disappointing and a very sad announcement for our area. After almost fifty years and ratepayers dollars in excess of some $9 billion invested in the plant, our hopes of seeing Bellefonte come to fruition have been quelled again. Bellefonte has brought many wonderful families to our corner of Northeast Alabama, along with the prospect of some great jobs and the promise of bolstering our local economy. “
Livingston added, “However, with this most recent announcement, we can choose to view the glass as half full or half empty. I see this as an opportunity for us in Jackson County to rally around the process of repurposing Bellefonte to bring those great jobs to our area and grow our local economy. Meetings have begun and are being scheduled with TVA to discuss how to repurpose Bellefonte. “
According to a University of Alabama study, the completion and opening of the plant would have produced $12.6 billion in economic output and created approximately 12,000 jobs.
Senator Livingston added, “I will continue to fight for Jackson County, to strengthen our community, and to come up with creative ways to use the Bellefonte property. This is a time for our community to come together to bring something to the Bellefonte property that will materialize and work on our behalf. Now is the time for Jackson County to seize this opportunity for our future.”
