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Trial underway in Bellefonte Nuclear Plant sale

Nuclear Development LLC claimsTVA did not do it's part to close the deal.

Posted: May 17, 2021 5:47 PM
Updated: May 17, 2021 5:57 PM

Monday marked the second day of the trial over the sale of the Bellefonte Nuclear Plant in Jackson County.

Nuclear Development LLC sued TVA claiming it broke the contract for selling the property. The organization says the sale did not go through because TVA did not do its part to close the deal.

Nuclear Development LLC bought the Bellefonte Nuclear Plant back in 2016 for $111 million during and auction. Nuclear Development LLC bought the Bellefonte Nuclear Plant back in 2016 for $111 million during and auction.

An attorney from Maryland was called as a witness. He explained that TVA did not provide a consent agreement to Nuclear Development LLC despite asking for the document for eight months.

The judge got to see emails between both organizations from March to October 2018 as evidence.

The second witness was the site manager at Bellefonte. He was also a member of TVA's transition team, which was created to help address all the necessary aspects before closing.

He says he was in constant contact with the Nuclear Development team. He adds that in the two years since the company won the auction in 2016, they never complained about a delay or deficient or incomplete documents from TVA.

Despite not having the agreement, Nuclear Development LLC submitted their application to the Nuclear Regulatory Commission to try and transfer the license of the Bellefonte Plant to Nuclear Development. However, it was not approved because of insufficient information.

TVA argued they weren't the only ones who didn't submit their documents at the time of the application. It also claims they did not break the contract because they could not close the deal since the commission did not approve the transfer of the license. By not getting that license, Nuclear Development defaulted on the requirements of their agreement.

"TVA takes its legal responsibility seriously and could not commit an illegal act through completion of the sale," TVA spokesperson Scott Fiedler said.

It was mentioned in court that the Nuclear Regulatory Commission did accept all the documents just last September. However, the sale of the Bellefonte Nuclear Plant was already canceled by default in 2018.

TVA says any actions after then would not change the contract's default.

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