SoftBank to spend an eye-popping $33B to build huge U.S. gas power plant

Tim De Chant

Fri, February 20, 2026 at 1:27 AM GMT+9 1 min read

Smoke stacks from a natural gas power plant stand against a blue sky. | Image Credits:Ron and Patty Thomas / Getty Images

SoftBank subsidiary SB Energy is expected to build a massive 9.2 gigawatt natural gas-fired power plant on the Ohio-Kentucky border, according to a report from Bloomberg. If completed, it would be the largest power plant in the U.S., capable of powering around 7.5 million homes.

With a price tag of $33 billion, the project would be more expensive than recent natural gas-fired power plants, which have skyrocketed in cost, Bloomberg notes. It’s unclear who will ultimately foot the bill, though traditionally rate-payers have shouldered the burden for new generating capacity.

The Japanese investor is a partner in the Stargate project with OpenAI. SB Energy did not say whether the new power plant would feed directly into the grid or if it would power data centers. OpenAI and SoftBank are in the process of building a “proof of concept” data center at GM’s former Lordstown automotive assembly plant.

A power plant of this size is likely to take years, perhaps a decade, to complete even before taking into account the shortage of natural gas turbines. If completed, the project could emit around 15 million metric tons of carbon dioxide per year. When including methane leaks from the natural gas supply chain, the climate impact could even be even bigger.

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