President Trump on Tuesday rolled out a blockbuster pitch for southern Ohio, telling supporters that Japan will bankroll a roughly $33 billion natural gas power plant near Portsmouth that the White House says would churn out about 9.2 gigawatts of electricity. He billed the proposal as “the largest in History,” wrapping it into a broader $550 billion Japanese investment pledge that the administration says is aimed at reviving American industry and creating jobs.
The fanfare, however, is arriving ahead of the fine print. Local leaders and energy planners note that key details like permits, financing structures and a construction timeline have not yet been released, so for now the project is more promise than plant.
“Our MASSIVE Trade Deal with Japan has just launched!” - President Donald J. Trump on Truth Social.
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As reported by The Columbus Dispatch, the White House and Commerce Department have identified three initial projects under Japan’s $550 billion commitment: the gas-fired generation site in Ohio, an oil and LNG project in Texas and a critical-minerals facility in Georgia. The Dispatch puts the Ohio allocation at roughly $33 billion and says an administration official named SB Energy, a unit linked to SoftBank, as the plant operator.
Commerce Secretary Howard Lutnick later fleshed out the plan, describing an initial package worth about $36 billion and calling the Ohio facility “the largest natural gas generation facility in history,” with planned output of 9.2 gigawatts, according to Yonhap. Lutnick framed the projects as moves to “strengthen grid reliability, expand baseload power, and support American manufacturing,” the outlet reported.
SB Energy and the Scale of the Project
The Wall Street Journal reports that SoftBank’s SB Energy is expected to lead the Ohio buildout and that a 9.2 gigawatt plant would rank among the largest power installations ever proposed in the United States. Such a facility would represent a major new chunk of capacity for the PJM regional grid and could significantly reshape local energy infrastructure.
Financing and Permits Remain Unclear
Coverage from Bloomberg notes that the administration has not spelled out how the projects will be financed or set timelines for binding contracts and regulatory approvals. Earlier reporting by the Associated Press has also pointed out that the broader $550 billion commitment from Japan has involved a mix of loans, guarantees and pledges, with details often hammered out later, according to AP via ABC News.
What Is Next for Portsmouth
On the ground in southern Ohio, officials have not yet announced a project schedule, and federal permits and environmental reviews will be required before any construction can begin. The Wall Street Journal also reported that the move is likely to feature in upcoming diplomacy, with Japan’s prime minister expected to meet President Trump in Washington next month as talks continue over how to implement the deal.
For residents around Portsmouth, the White House is selling the proposal as a major jobs and investment engine. Local planners, though, are watching for less glamorous but far more telling milestones: signed contracts, permit filings and actual shovels in the ground. Officials say they will provide more specifics as negotiations continue and as contracts and permitting are finalized.
