"IN-THE-BORO" News, Video and Commentary: Bellefonte, Alabama - Stories About Our Nuclear Future - The Bellefonte Saga

Tuesday, November 15, 2016

Bellefonte, Alabama - Stories About Our Nuclear Future - The Bellefonte Saga - May God have Mercy on our Souls

Ghosts of Bellefonte, photo by G. Morgan

$5 Billion of our money spent, sold for $111 million, and who is ecstatic about such a deal?

Franklin Haney-hahaha. If he builds it as a nuclear plant, he will suffer the same fate as TVA who had many more dollars than Haney. But then again , Haney is TVA's landlord.

WAAY Video

"Sum'n good will come out of it," says current plant manager - Hahaha, what Franklin Haney goes bust and TVA laughs while ratepayers cry?

11-14-16 Sale of Bellefonte – Press Stories

Estimated costs in today’s money for the 55% complete Bellefonte Unit 1, 8-9 Billion dollars; Unit 2, 35% complete, 10-12 billion dollars.

TVA Press Release: HOLLYWOOD, Ala. ― The Tennessee Valley Authority announced today the sale of the 1,400 acre Bellefonte property, near Hollywood, Ala., to Nuclear Development, LLC for the purchase price of $111 million. The sale concludes a six-month competitive auction process designed to promote job creation and investment in northeast Alabama. http://www.snl.com/Cache/1001216661.PDF?O=PDF&T&Y&D&FID=1001216661&iid=4063363

Clarion, Scottsboro, Al. article: Haney Investments was represented by former Congressman Bud Cramer during the press conference. http://www.theclarion.org/index.php?option=com_content&view=article&id=10535:bellefonte-auctions-for-111-million-&catid=42:clarion-rotation-stories&Itemid=142

Daily Sentinel, Scottsboro, Al. article: “Today marks the first step of an exciting new journey for the people of Alabama and Tennessee,” said Franklin L. Haney, who established Nuclear Development in 2012. “The Bellefonte Nuclear Station will help transform communities across the region many of which have been hit hard by the forced closure of coal power plants over the last decade. This project will bring new life to the region by creating thousands of jobs while providing assured access to reliable, affordable, zero-emission energy.”

Haney said he also would like to thank the Tennessee Valley Authority Board of Directors and Chief Executive Officer Bill Johnson “for their diligent work in executing this fair and open bidding process. I am grateful for the entire Alabama and Tennessee congressional delegations – especially Senators Shelby, Sessions, Alexander and Corker, as well as Alabama Gov. Robert Bentley – for their continued support of nuclear development throughout this process.”

Chattanooga Times Free Press - HOLLYWOOD, Ala. — Chattanooga developer Franklin L. Haney, who has spent the past decade trying to acquire TVA's Bellefonte Nuclear Power plant, emerged today as the winner at an auction of the abandoned nuclear plant.

Haney, who organized an investment group known as Nuclear Development LLC, agreed to pay $111 million to acquire the abandoned twin-reactor complex and the 1,600 acres it occupies along the Tennessee River here.

Haney said he hopes to finish Bellefonte, creating between 3,000 and 4,000 temporary construction jobs, and an estimated 2,000 full-time jobs once both reactors become operational. http://www.timesfreepress.com/news/business/aroundregion/story/2016/nov/14/haney-wins-bidding-contest-abandoned-nuclear-plant/397652/

Nuclear Development LLC — formed by Tennessee businessman Franklin L. Haney and based in Washington, D.C. http://abcnews.go.com/US/wireStory/tva-selling-unfinished-nuclear-plant-northeast-alabama-43521613 Virginia: https://sccefile.scc.virginia.gov/Business/S336227 Secretary of State in Virginia lists the corporate license as delinquent. https://sccefile.scc.virginia.gov/Find/Business?SearchTerm=nuclear+development+llc&SearchPattern=K&as_fid=DqXOVjh-9mgzXgg1_3c-

Al.com press release: An unfinished nuclear power plant in northeast Alabama this morning was auctioned for $111 million. Nuclear Holdings LLC, a Washington D.C. based company, promises in its bid to bring 2,000 permanent jobs to north Alabama and up to 4,000 temporary construction jobs. The company says it plans a $13 billion investment to bring the plant online as an energy producer. http://www.al.com/news/huntsville/index.ssf/2016/11/an_unfinished_alabama_nuclear.html

Nuclear Holdings, LLC https://www5.sos.state.oh.us:8443/ords/f?p=100:7:0::NO:7:P7_CHARTER_NUM:1676058

Haney Bentley Connection-Political Payola

Just the traceable donations from Haney's businesses to Bentley's last campaigns total about $300,000, much of which moved into Bentley's campaign account after the last election was over. Again, that's only what's easily traceable. That campaign account subsequently paid the salary of Rebekah Caldwell Mason, the governor's senior political advisor with whom he is accused of having an affair. http://www.al.com/news/index.ssf/2016/05/after_hefty_campaign_donations.html

Rapid increases in the estimated cost to complete Bellefonte also may have also contributed to the utility taking it out of future plans for new generation capacity. In 2013 the costs reportedly jumped from about $5 billion to a range of between $7.4 and $8.9 billion. A private equity effort headed by Franklin Haney, an investor, offered to complete the reactor and operate it for $10 billion. TVA turned him down saying the plan didn’t have good enough numbers to proceed. http://www.theenergycollective.com/dan-yurman/2216491/tva-backs-away-bellefonte

By 2006, when construction was halted again and the Nuclear Regulatory Commission’s (NRC) construction permits were terminated, these completion percentages had been revised to 55 and 35. http://thebulletin.org/delivering-nuclear-promise-tvas-sale-bellefonte-nuclear-power-plant-site9524

The Problem, maybe for Haney

TVA ACT reference Section 10 and Section 15d prohibitions on sale of power outside of TVA area and power producing corporations in TVA’s area: https://www.tva.com/file_source/TVA/Site%20Content/About%20TVA/TVA_Act.pdf

Historical Stories

1976 Report by the GAO on Bellefonte: http://www.gao.gov/assets/80/78948.pdf

"The Zombie Reactor" - http://www.nytimes.com/2011/06/16/business/energy-environment/16nuclear.html