Corker Will Look for ‘Flexibility’ as TVA Weighs Reactor Sale

U.S. Senator Bob Corker says he’ll sit down and talk with the Tennessee Valley Authority about how it will pay to finish its Bellefonte nuclear plant. TVA is looking at selling a different nuclear reactor and leasing it back in order to afford the $5 billion Bellefonte project in Alabama.

TVA isn’t allowed to run up more than $30 billion of debt, and currently stands at $24 billion. Leasing back the Watts Bar Unit 2 reactor in East Tennessee is a way to sidestep that debt cap. Asked whether raising the cap is an option, Corker didn’t answer directly, instead saying he doubts the leaseback is TVA’s first choice.

How TVA will afford Bellefonte is something Corker says he and Tennessee’s other senator, Lamar Alexander, aim to discuss with the power provider.

“Lamar and I both are going to be talking with them as they go forward to see if there can be some flexibility that actually takes into account the revenues that TVA’s generating and the fact that building more baseload power is good for the area.”

Corker says he’s not ready to say what the best financial option would be, but he fully plans to delve into it.