Back in November of 2016, Nuclear Development signed a contract with Tennessee Valley Authority (TVA). The contract entailed the purchase of the partially developed Bellefonte facility from TVA. Nuclear Development and TVA are currently in a debate as TVA is trying to terminate the contract and has been blocking a sale to Nuclear Development.
The Nuclear Development LLC has appealed to the Tennessee Valley Authority and local and energy policy makers to further the development of the long-dormant Bellefonte Nuclear Generating Station. By completing the facility it would lead to low-cost, carbon-free energy as well as a substantial investment for people living in Tennessee.
Nuclear Development’s plan was laid out of all the positives that would come from the facility stating it would:
- Reinvigorate the region’s lagging efforts to meet the United States’ goal of achieving a carbon pollution-free power sector by 2035;
- Create 8,400 construction jobs per year for six years;
- Create 4,000 direct and indirect, high-paying jobs at the facility and in the surrounding area during the facility’s 40-60 years in operation;
- Deliver a long-term supply of enough electricity to power a city larger than Huntsville and Chattanooga combined;
- Lower electricity rates for customers; and
- Generate an estimated $1 billion in annual economic benefits for the region, according to a University of Alabama report.
The Tennessee Valley Authorities last minute decision to back out was because they were not comfortable with Nuclear Developments taking over despite all the funding and plans they had already organized. Nuclear Development has not quite given up and is currently revisiting the dispute with TVA. Read more here.