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

Source: TechCrunch

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

Image Credits: Ron and Patty Thomas / Getty Images

Project Overview

• Capacity: 9.2 GW (natural gas)
• Location: Ohio‑Kentucky border
• Potential output: Enough electricity for ~7.5 million households

Cost and Financing

• Estimated cost: $33 billion
• The price is higher than recent natural‑gas projects, reflecting a broader rise in construction costs.
• It remains unclear who will ultimately fund the plant; historically, rate‑payers have shouldered the cost of new generating capacity.

Partnerships and Related Initiatives

• SoftBank’s SB Energy is a partner in the Stargate project with OpenAI.
• SB Energy has not confirmed whether the new plant will feed directly into the grid or primarily serve data centers.
• OpenAI and SoftBank are building a “proof of concept” data center at GM’s former Lordstown automotive assembly plant (source).

Timeline

• A plant of this magnitude could take several years to a decade to complete, even before accounting for the current shortage of natural‑gas turbines.

Environmental Impact

• Annual CO₂ emissions: ~15 million metric tons.
• When methane leaks from the natural‑gas supply chain are included, the climate impact could be substantially higher (see the U.S. Department of Energy analysis).