Nevada-based Phoenix Energy makes bid for Bellefonte Nuclear Plant
A company has bid on a nuclear power plant for just a fraction of what the TVA spent to build it.
Nevada-based Phoenix Energy says it wants to produce electricity using a new method at the Bellefonte Nuclear Plant in Hollywood, Alabama.
The company bid $38 million for the facility.
TVA invested around $5 billion in the plant since construction began in the mid 1970's.
But work was never finished as power demand leveled off.
The utility says it hopes to close a deal for the plant in October.