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Regional & National

TVA to sell Watts Bar nuclear reactor

August 24th, 2011 9:37 am by Dave Flessner

CHATTANOOGA — For the first time in its 78-year history, TVA plans to put a nuclear power reactor on the auction block — all in hopes of raising money to complete another nuclear plant.

With the plan, TVA hopes to sell the new Watts Bar Unit 2 reactor, along with the new John Sevier combined cycle gas plant, to finance the $4.9 billion completion of Bellefonte Nuclear Plant, a 37-year-old, half-finished reactor in Hollywood, Ala.

Kim Greene, TVA group president of strategy and external relations, said Tuesday that the utility expects to raise $900 million to $1 billion for the gas plant and up to $2.5 billion on the sale of the new Watts Bar reactor, which would then be leased back to TVA.

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