Wright And Lutnick Unveil $33 Billion Gas-Fired Mega-Project In Ohio With SoftBank

SoftBank and American Energy Power Company (AEP) are launching a major new power initiative in Pike County, Ohio. The project transforms the former Portsmouth Gaseous Diffusion Plant site into a hub for 10 GW of generation capacity, including at least 9.2 GW of natural gas-fired output dedicated to supporting up to 10 GW of data center development.

Yesterday in Ohio, we broke ground on a new partnership to build more than 9 gigawatts of natural gas power generation and a data center complex that will provide thousands of jobs and result in LOWER electricity costs. pic.twitter.com/lXKpQBhtKw

— Secretary Chris Wright (@SecretaryWright) March 21, 2026

Japanese investors through SoftBank Group and SB Energy are committing $33.3 billion to the gas generation component. A separate $4.2 billion investment will fund new electrical transmission infrastructure in partnership with AEP Ohio. The deal also includes a $40 million Community Benefits Agreement and federal land leasing.

“Thanks to President Trump, the U.S. government is leveraging its assets—like our federal lands—to add power generation, create jobs, and ensure the United States wins the AI race,” said U.S. Energy Secretary Chris Wright. “I’m pleased to be working with our partners at SoftBank and AEP Ohio on this important project. By bringing new power online and upgrading our existing infrastructure, this investment supports the AI boom and cutting-edge technologies while strengthening our energy system and helping keep costs down for the American people”.

This announcement aligns with Ohio’s broader energy buildout at the same Pike County location. Centrus Energy continues expanding its commercial uranium enrichment facility there, as the company recently launched centrifuge manufacturing and secured a $900 million DOE award to scale both low-enriched uranium and high-assay low-enriched uranium production.

Oklo and Centrus announced a planned joint venture for HALEU deconversion services, co-located at the Piketon site and adjacent to Oklo’s proposed 1.2 GW nuclear power campus. Meta Platforms has signed an agreement with Oklo to advance that campus, providing prepayments to secure fuel and accelerate Phase 1 development targeted for the early 2030s.

Meta separately entered a 20-year power purchase agreement with Vistra for more than 2.1 GW from existing nuclear plants, including Ohio’s Perry and Davis-Besse power plants, plus uprates at those sites. These nuclear commitments complement the new gas capacity, as Ohio positions itself as one of the leading options for AI data center deployments.