Bellefonte nuclear deal implodes: Private developer sues after TVA cancels sale

Marlin · Dec 04, 2018, 06:29

Bellefonte nuclear deal implodes: Private developer sues after TVA cancels sale

https://www.utilitydive.com/news/bellefonte-nuclear-deal-implodes-private-developer-sues-after-tva-cancels/543481/

TVA · Dec 06, 2018, 02:22

I hate saying I called this but...

Marlin · Dec 06, 2018, 06:00

Quote from: TVA on Dec 06, 2018, 02:22
I hate saying I called this but...

You said it was not legal that is not what the article said.

hamsamich · Dec 07, 2018, 12:56

The famous rerun shotgun....say so many things, eventually one will be right...then you can say I told you so! How awesome for you. Told you so!

hamsamich · Dec 10, 2018, 08:55

If you read the other article sounds like TVA might have been doing something wrong...they are giving them another chance....thanks to lawsuits.

TVA · Dec 11, 2018, 10:23

Will never open as a nuke.
Even if it what they did was illegal TVA would fight it.
My guess is they never specifically stated regulatory approval was needed. Now they have.
Bottom line is the buyer is talking about agreements to sell power.
Any power sold inside the "fence" aka the TVA region requires by law TVA to sign off.

Marlin · Dec 11, 2018, 07:08

Quote from: TVA on Dec 11, 2018, 10:23
Even if it what they did was illegal TVA would fight it.

Then why is TVA accommodating the sale by extending the deadline?

Non sequitur statement. I assume you meant legal not illegal.

TVA · Dec 11, 2018, 07:35

They will sell the property. Nothing in the act against that. Getting them to buy the power is a different deal. They have to agree to distribute your electricity. You just cant do it. First thing they teach in Welcome To TVA Training

Marlin · Dec 11, 2018, 08:11

Quote from: TVA on Dec 11, 2018, 07:35
They will sell the property. Nothing in the act against that. Getting them to buy the power is a different deal. They have to agree to distribute your electricity. You just cant do it. First thing they teach in Welcome To TVA Training

Doesn't explain why TVA is accommodating the sale. Who would buy a power plant that can't supply power? A hobby nuke? Your answers are still non sequitur.

"The Tennessee Valley Authority has granted an extension to developer Franklin L. Haney to complete his $111 million purchase of the unfinished Bellefonte Nuclear Power Plant in Alabama.

Haney said Friday he appreciates TVA's work with him in transferring the 1,300-acre riverfront site in Hollywood, Alabama, where TVA began building the nuclear power plant in 1974. Haney said he is confident he will soon close on the plant purchase and ultimately complete the twin-reactor plant to generate power at a competitive price to attract plenty of customers."

https://www.timesfreepress.com/news/business/aroundregion/story/2018/nov/09/tva-grants-haney-more-time-buy-bellefonte-nuclear-plant/482772/

GLW · Dec 12, 2018, 05:53

Quote from: Marlin on Dec 11, 2018, 08:11
Doesn't explain why TVA is accommodating the sale. Who would buy a power plant that can't supply power? A hobby nuke? Your answers are still non sequitur......

no,...

a leaseback,...

Hanley and Co. have absolutely no credentials, no experience, no infrastructure, nada, zip, nothing to be in the business of building or operating a nuke plant,...

Hanley has been feeding at the trough of DOE loan guarantee programs,...

get the real estate,...

secure the capital to finish the project (or at least make the attempt),...

make millions upon millions per year on a leaseback,...

or,...

make millions upon millions per year on denial of use surcharges when the nuke plant construction fails,....

it's all a win-win for Hanley,....

EDIT - "Hanley" should be "Haney",....writer's block,...OCD,...I2D,...OP,...take your pick,...

TVA · Dec 12, 2018, 08:43

Power plant isnt complete. TVA simply wants to get something back. At one time they were selling prime land on the river to Haney. The people of TN put a stop to that based on the fact that the land was taken from them back in 1933 and it should have been given back. They were right enough so TVA stopped selling Haney land.
In this case it's an industrial site with a lot of infrastructure. He will buy the land and convert it to whatever.
Btw no matter whether he owns it or not it is on the river. He will still have to clear everything he does with TVA. It's law. He knows that as he has done it before. They know it too. The rest is a bunch of smoke and mirrors.

Marlin · Dec 12, 2018, 06:03

Quote from: TVA on Dec 12, 2018, 08:43
Power plant isnt complete. TVA simply wants to get something back. At one time they were selling prime land on the river to Haney. The people of TN put a stop to that based on the fact that the land was taken from them back in 1933 and it should have been given back. They were right enough so TVA stopped selling Haney land.
In this case it's an industrial site with a lot of infrastructure. He will buy the land and convert it to whatever.
Btw no matter whether he owns it or not it is on the river. He will still have to clear everything he does with TVA. It's law. He knows that as he has done it before. They know it too. The rest is a bunch of smoke and mirrors.

Citations or do we take you as the definitive authority. I expect I know the response.

I see smoke and mirrors too.