Concentric Energy Advisors said July 18 that it intends to use a two-stage auction process to complete the sale of the Tennessee Valley Authority (TVA)’s Bellefonte nuclear plant near Hollywood, Alabama, by October of this year.
The initial indicative bidding process will take place on or before Sept. 9, Concentric said.
Following a detailed due diligence period, a second and final round of bidding will take place and close with a public auction in October, 2016. Concentric will issue marketing materials describing the site and auction process in the coming weeks.
Concentric was retained to manage the auction of Bellefonte after the TVA Board declared the plant to be surplus property and authorized its sale on May 5 after receiving input from public officials, customers and local residents about selling the site.
Public comments on the future of Bellefonte have favored selling the property to an entity that would actually complete the nuclear plant. Some parties had called for TVA to keep the property and use it to develop renewable power sources.
With deployment of the Watts Bar 2 plant this summer, TVA does not foresee the need for more baseload nuclear for at another 20 years. TVA is interested in developing small modular reactors (SMRs) at the Clinch River site in Tennessee.
The sale includes a site of approximately 1,600 acres on Guntersville Reservoir, and two partially constructed Babcock & Wilcox pressurized water reactors (PWRs). TVA holds licenses from the Nuclear Regulatory Commission (NRC) to construct the two units.
Additional facilities that will be conveyed in the sale include transmission infrastructure on the site, two cooling towers, water intake systems and office and warehouse buildings.
The Bellefonte property also has the advantage of barge access for the delivery of heavy industrial equipment, railroad spurs and a helicopter landing pad, Concentric noted.
TVA’s primary goal for this sale is to enhance economic development opportunities for the surrounding area and communities.
Questions about the auction process should be directed to Concentric Energy Advisors; Caroline O’Neill, Senior Project Manager; (508) 263-6250 firstname.lastname@example.org.
Another Concentric contact is Danielle Powers, Vice President, (508) 263-6219 email@example.com.
Based in Massachusetts, Concentric Energy Advisors is a management consulting and financial advisory firm focused on the North American energy industry. Concentric is a leading advisor on nuclear plant sales, and has managed all four of the nuclear plant auctions that have occurred since 2004, the firm said in its news release.