Concentric Energy Advisors, Inc. Announces Process for Bellefonte Nuclear Plant Sale

MARLBOROUGH, Mass., July 18, 2016 /PRNewswire/ -- Concentric Energy Advisors, Inc. ("Concentric") will employ a two-stage auction process to complete the sale of the Tennessee Valley Authority's Bellefonte Nuclear Plant near Hollywood, Ala., by October 2016.

Concentric was retained to manage the auction of Bellefonte after the TVA Board declared the plant to be surplus property and authorized its sale on May 5, 2016, after receiving input from public officials, customers and local residents about selling the site.  

The initial indicative bidding process will take place on or before September 9, 2016. Following a detailed due diligence period, a second and final round of bidding will take place and close with a public auction in October, 2016.  Concentric will issue marketing materials describing the site and auction process in the coming weeks. 

The sale includes a site of approximately 1,600 acres on Guntersville Reservoir, and two partially constructed Babcock & Wilcox Pressurized Water Reactors.  TVA holds licenses from the Nuclear Regulatory Commission to construct the two units.  Additional facilities that will be conveyed in the sale include transmission infrastructure on the site, two cooling towers, water intake systems and office and warehouse buildings.  The Bellefonte property also has the advantage of barge access for the delivery of heavy industrial equipment, railroad spurs and a helicopter landing pad.

TVA's primary goal for this sale is to enhance economic development opportunities for the surrounding area and communities.

Questions about the auction process should be directed to Concentric Energy Advisors, Inc.

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving more than 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.

Concentric Energy Advisors, Inc. (ceadvisors.com) is a management consulting and financial advisory firm focused on the North American energy industry. Headquartered in Marlborough, Mass., Concentric specializes in transaction-related financial advisory services, energy market analysis, litigation support and utility ratemaking services.  Concentric is the leading advisor on nuclear plant sales, and has managed all four of the nuclear plant auctions that have occurred since 2004.

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SOURCE Concentric Energy Advisors, Inc.