SoftBank will lead a consortium to construct a $33 billion natural gas-fired power plant in Portsmouth, Ohio. This project serves as the centerpiece of a $36 billion Japanese investment initiative in the United States. The initiative represents the first phase of a broader $550 billion trade agreement between the two nations.
The 9.2-gigawatt facility would become the largest of its kind in the United States upon completion. It will generate enough electricity to power approximately 7.4 million homes. SoftBank subsidiary SB Energy will operate the plant.
The facility aims to meet rising electricity demand from AI data centers and manufacturing sectors. Japanese firms Toshiba and Hitachi have expressed interest in participating in the project.