July 18, 2016

Marlborough co. handling nuclear plant auction

Wikipedia
Construction at the Bellefonte Nuclear Plant was halted in 1988.

Marlborough's Concentric Energy Advisors will be in charge of auctioning off the Tennessee Valley Authority's incomplete Bellefonte Nuclear Plant near Hollywood, Ala., by this October.

Concentric was retained to manage the auction of Bellefonte after the TVA Board declared the plant to be a surplus property and authorized its sale in May. The 1,600-acre facility currently contains two unfinished nuclear units, plus a number of supporting structures, including transmission switchyards, warehouses and parking lots, suitable for a variety of industrial, commercial or residential uses, according to a release from TVA. According to the Associated Press, the property has been appraised at $36 million.

According to Concentric, the company will use a two-phase auction with a vetting process to complete the sale of the property.

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