Toshiba Corp. and Hitachi Ltd. have expressed interest in participating in a natural gas power plant project in Ohio led by SoftBank Group Corp. subsidiary SB Energy. The project is expected to generate 9.2 GW of power, with Japan expected to invest up to $33 billion.
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Counterparts (5)
Investor
Hitachi Energy
company · 1 deals
Hitachi Energy is committed to powering the world’s energy system to be more sustainable, secure, resilient, and affordable, making electricity more accessible to all and empowering societies to thrive. They provide technology and expertise to make the energy transition happen.
Toshiba
company
Toshiba is a multinational engineering and electronics conglomerate with a diverse portfolio including energy systems, infrastructure systems, and electronic devices. They are involved in various infrastructure projects globally, focusing on providing solutions for energy, transportation, and social infrastructure.
Toshiba Group
company
Toshiba Group is a Japanese multinational engineering and electronics conglomerate. They are involved in various infrastructure projects globally, including energy, transportation, and social infrastructure.
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Deal Analysis
Toshiba Corp. and Hitachi Ltd.'s potential participation in SB Energy's 9.2 GW natural gas power plant project in Ohio represents a significant investment in U.S. energy infrastructure. With a potential Japanese investment of up to $33 billion, this project underscores the continued importance of natural gas in the energy mix, even amidst growing renewable energy adoption. The involvement of major Japanese conglomerates like Toshiba, Hitachi, and SoftBank highlights the global interest in U.S. energy assets and the potential for international collaboration in large-scale infrastructure development.
This deal is notable for its substantial capacity (9.2 GW), the significant financial commitment involved, and the participation of prominent players in the technology and energy sectors. The project's scale suggests a strategic focus on meeting a substantial portion of Ohio's energy demand. While the project's stage is currently undefined, the announced interest from Toshiba and Hitachi signals a potential move towards development and construction. The success of this project could influence future investments in natural gas power generation and further solidify the role of Japanese companies in the U.S. energy market.
- 9.2 GW natural gas power plant project in Ohio
- Potential investment of up to $33 billion from Japan
- Involvement of major players: Toshiba, Hitachi, and SoftBank
- Highlights continued importance of natural gas in the energy mix
Source Intelligence
KEY DETAILS
Japan is expected to invest up to $33 billion in the gas plant. "Japan is expected to invest up to $33 billion in the gas plant, which will be led by SoftBank Group Corp. subsidiary SB Energy, according to a U.S. Commerce Department fact sheet outlining the investments."
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Deal Size
Japan plans to invest up to $36 billion in U.S. oil, gas and critical mineral projects, the first tranche of its $550 billion commitment under the trade agreement it struck with President Donald Trump.
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Capacity
The most significant investment is a natural gas facility in Ohio that’s expected to generate 9.2 gigawatts of power, according to a statement from U.S. Commerce Secretary Howard Lutnick, a massive project which Trump described as “the largest in History.”
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Location
The most significant investment is a natural gas facility in Ohio that’s expected to generate 9.2 gigawatts of power, according to a statement from U.S. Commerce Secretary Howard Lutnick, a massive project which Trump described as “the largest in History.”
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Announcement
February 18, 2026
PARTIES MENTIONED IN SOURCE
S
SoftBank Group Corp.
developer
"Japan is expected to invest up to $33 billion in the gas plant, which will be led by SoftBank Group Corp. subsidiary SB Energy, according to a U.S. Commerce Department fact sheet outlining the investments."
S
SB Energy
developer
"Japan is expected to invest up to $33 billion in the gas plant, which will be led by SoftBank Group Corp. subsidiary SB Energy, according to a U.S. Commerce Department fact sheet outlining the investments."
T
Toshiba Corp.
investor
"Japanese companies Toshiba Corp. and Hitachi Ltd. have also expressed interest in participating in the gas project, the country’s trade minister Ryosei Akazawa told reporters on February 18."
H
Hitachi Ltd.
investor
"Japanese companies Toshiba Corp. and Hitachi Ltd. have also expressed interest in participating in the gas project, the country’s trade minister Ryosei Akazawa told reporters on February 18."
high quality
Enriched Feb 19, 2026
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Global Infrastructure Sherpa