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SoftBank to spend an eye-popping $33B to build huge U.S. gas power plant
TechCrunch· 2026-02-19 16:27
Core Viewpoint - SB Energy, a subsidiary of SoftBank, is planning to construct a 9.2 gigawatt natural gas-fired power plant on the Ohio-Kentucky border, which would be the largest in the U.S. and capable of powering approximately 7.5 million homes [1] Group 1: Project Overview - The estimated cost of the project is $33 billion, making it more expensive than recent natural gas-fired power plants [2] - It remains uncertain who will finance the project, although traditionally, rate-payers have borne the costs of new generating capacity [2] Group 2: Partnership and Purpose - SB Energy is collaborating with OpenAI on the Stargate project, but it has not clarified whether the new power plant will supply power directly to the grid or specifically to data centers [3] - OpenAI and SoftBank are currently developing a "proof of concept" data center at the former Lordstown automotive assembly plant [3] Group 3: Environmental Impact - The construction of such a large power plant is expected to take years, potentially up to a decade, especially considering the shortage of natural gas turbines [4] - If completed, the plant could emit around 15 million metric tons of carbon dioxide annually, and when factoring in methane leaks from the natural gas supply chain, the environmental impact could be significantly worse [4]