TVA selling unfinished nuclear plant in northeast Alabama

FILE - This June 2, 2011 photo shows the Tennessee Valley Authority's Bellefonte Nuclear Plant site 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)
FILE - This June 2, 2011 photo shows the Tennessee Valley Authority's Bellefonte Nuclear Plant site 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)

HOLLYWOOD, Ala. (AP) – The nation’s largest federal utility is selling an unfinished nuclear power plant in northeast Alabama.

The Tennessee Valley Authority utility says it will hold an auction Monday for the Bellefonte Nuclear Plant. Minimum bids are set at $36.4 million, and one company has already said it’s offering more than that.

The utility says it wants the property used in a way that will benefit the surrounding economy of the Tennessee Valley.

Work began at the site in the mid-1970s, but the utility never finished the two-reactor plant as demand for electricity softened.

The purchaser will get buildings and 1,600 acres of land on the Tennessee River.

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 This material may not be published, broadcast, rewritten or redistributed.)

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