.jpg)
2 hours ago
3
Article content
(Bloomberg) — A massive, natural gas facility that US President Donald Trump said Japan plans to build in Ohio would be the largest in the US, with capacity to power millions of homes.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Japan is expected to invest $33 billion in the project, which will be led by SoftBank Group Corp. subsidiary SB Energy, according to a US Commerce Department fact sheet outlining the investments. The site is expected to have capacity of 9.2 gigawatts, according to a statement from US Commerce Secretary Howard Lutnick on Tuesday.
Article content
Article content
Article content
That’s akin to about nine traditional reactors and at full capacity could generate enough power to supply about 7.4 million homes on the largest US grid, which is operated by PJM Interconnection LLC. If built, the Ohio plant would be bigger than a 7.65-gigawatt gas project Pacifico Energy Group plans in Texas and also be one of the largest in the world — Dubai Electricity and Water Authority says its Jebel Ali facility is the biggest gas generator, at 9.547 gigawatts.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The Trump administration is seeking to accelerate the construction of big power plants to tame skyrocketing power bills as electricity demand is boosted by data centers, factories and the overall electrification of the economy. However, gas plants have their own challenges — including the surging global cost of turbines and lengthening average lead times.
Article content
Japanese companies including SoftBank, Toshiba Corp. and Hitachi Ltd. have expressed interest in participating in the US gas project, Trade Minister Ryosei Akazawa told reporters on Wednesday. Firms from Japan are already among the biggest foreign investors in US power plants and gas developments.
Article content
The announcement came as a surprise to PJM, which operates a grid that extends from New Washington to Chicago.
Article content
“PJM was not aware of the project but we are excited about its prospects due to the need for new supply to meet burgeoning data center/large load demand growth,” spokesman Daniel Lockwood said in an email.
Article content
—With assistance from Naureen S. Malik, Brian Eckhouse, Shoko Oda and Koh Yoshida.
Article content
English (US)