Developer says TVA illegally blocking nuclear plant sale

CHATTANOOGA, Tenn. (AP) — The Tennessee Valley Authority is accused of illegally blocking the sale of an unfinished nuclear power plant in a federal lawsuit filed by a developer trying to buy the plant.

The Chattanooga Times Free Press reports that attorneys for developer Franklin L. Haney accused TVA on Friday of breach of contract for not completing a previously agreed to sale of the Bellefonte nuclear plant in Hollywood, Alabama.

Haney submitted the winning $111 million purchase offer in a 2016 auction and was scheduled to close the sale Friday.

TVA said the sale could not be completed because Haney had not gained approval from the U.S. Nuclear Regulatory Commission to transfer the construction permits for Bellefonte from TVA.

TVA spokesman Jim Hopson said Friday that the federal utility had not yet been served with Haney’s lawsuit.