SoftBank Group (SBG) is spearheading an investment alliance to develop a US-based natural gas-fired power plant project valued at US$33.3 billion, aiming to support infrastructure demands driven by artificial intelligence (AI). This initiative is one of three projects launched under the US-Japan trade agreement signed with President Donald Trump in 2025.
According to reports from Nikkei and Bloomberg, Japan's Ministry of Economy, Trade and Industry (METI) announced on February 18, 2026, that the first wave of investments within a broader US$550 billion Japanese investment plan into the US has been finalized as part of ongoing tariff negotiations between the two countries.
The centerpiece of this plan is the natural gas power plant, with a total project scale reaching US$33.3 billion. Besides SoftBank Group, METI noted participation interest from major Japanese companies, including Toshiba, Hitachi, and Mitsubishi Electric.
The US government stated the power plant will be located in Ohio, boasting a generation capacity of 9.2GW, making it the largest power plant in the US and over 9x larger than most modern American natural gas plants.
Reports indicate SoftBank will lead this massive investment effort, joined by other participants such as Panasonic Holdings, Murata Manufacturing, TDK, and various electronic components and power transmission equipment manufacturers. Financial institutions from both Japan and the US, including Mizuho Bank and Goldman Sachs, are also involved.
A senior executive from one participating company said that while the exact investment size remains undecided, they hope to leverage the project to expand sales channels amid growing US data center investments.
The Ohio facility is expected to seek integration into the PJM Interconnection grid, which spans 13 states from Washington, D.C. to Chicago and serves nearly 20% of the US population.
PJM spokesperson Daniel Lockwood stated that although PJM was previously unaware of the project, it is excited about its prospects given the urgent need for new power supplies to meet surging demand from data centers and large loads.
Additionally, the other two projects under the US$550 billion Japanese investment plan include a US$600 million synthetic industrial diamond factory in Georgia and a US$2.1 billion crude oil export facility in the Gulf of Mexico.
Article edited by Jack Wu
