SoftBank Group-affiliated SB Energy announced that it is building a new 9.2GW gas-fired power plant at the Portsmouth site in Pike County, Ohio. The project was first announced as a partnership between the U.S. Department of Energy (DOE) and SoftBank on March 20, 2026, with Nvidia’s large-scale power cost guarantee agreement finalized on August 17, 2026, according to the report.
The project involves building 9.2GW of new gas-fired generation capacity out of a total 10GW of new capacity, reported to be the largest single gas power project in the United States. AEP Ohio is participating as a partner and is separately investing $4.2 billion in transmission infrastructure, it is reported. Power generated from the plant is expected to supply a data center to be operated by OpenAI, with Nvidia guaranteeing SB Energy up to $105 billion in lease and power costs and making a $1.5 billion equity investment, according to the report. First operation is targeted for 2028. Specific equipment suppliers, including the gas turbine manufacturer, have not been disclosed.
The project involves 9.2GW of new gas-fired generation capacity (out of 10GW total new capacity), with $33.3 billion in Japanese funding, it is reported. Nvidia’s lease and power cost guarantee is valued at up to $105 billion, with a separate $1.5 billion equity investment. AEP Ohio’s separate transmission investment is valued at $4.2 billion. First operation is targeted for 2028; the DOE-SoftBank partnership was announced on March 20, 2026, and the OpenAI-Nvidia agreement was finalized on August 17, 2026.
The project is reported to be aimed at addressing surging U.S. electricity demand driven by the expansion of AI data centers. The structure of data center operators, power developers and semiconductor companies jointly entering into large-scale power supply agreements is described as an emerging trend in U.S. power infrastructure investment.
The growing number of large gas-fired power projects directly linked to data center electricity demand illustrates the emergence of a new demand source for power plant construction, potentially creating significant contract opportunities for the gas turbine and EPC industries.
Key points to watch include whether the 2028 first-operation target is actually met, and the timing of contract awards for key equipment such as gas turbines.