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Portsmouth Today
By the People, for the People
U.S. Dept. of Energy Southeast Ohio site to be redeveloped into $33B natural gas plant
SoftBank Group and American Electric Power partner to build world's largest natural gas plant on former DOE site.
Mar. 21, 2026 at 2:33am
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A massive $33 billion international deal is bringing big changes to Southeast Ohio, as SB Energy, a SoftBank Group company, has formed a public-private partnership with American Electric Power to redevelop a former United States Department of Energy site into the world's largest natural gas plant. The project is expected to transform the area economically.
Why it matters
The redevelopment of the former DOE site into a massive natural gas plant represents a significant economic opportunity for the Southeast Ohio region, which has struggled with economic decline in recent decades. The project is expected to bring billions in investment and create thousands of new jobs in the area.
The details
SB Energy, a SoftBank Group company, is investing $33 billion to build the new natural gas plant on the former DOE Portsmouth site, which is nearly 80 years old. In addition, SB Energy is investing more than $4 billion with American Electric Power to upgrade and expand transmission lines in the region. The project is being done without increasing customer rates.
- The project officially began on Friday, March 20, 2026.
- The former DOE Portsmouth site is nearly 80 years old.
The players
SB Energy
A SoftBank Group company that is investing $33 billion to build the new natural gas plant.
American Electric Power
An Ohio-based electric utility company that is partnering with SB Energy on the project.
Chris Wright
United States Department of Energy Secretary.
Howard Rutnick
United States Department of Commerce Secretary.
Masayoshi Son
CEO of SoftBank Group.
What they’re saying
“It's the people. It's the community, it's the history of the building. Tremendous infrastructure that can lead the U.S.”
— Rich Hossfeld, SoftBank Group
“Workforce, people, business environment and a very large industrial facility, the gaseous diffusion plant here.”
— Chris Wright, United States Department of Energy Secretary
What’s next
The project is expected to begin construction in the coming months, with the new natural gas plant slated to be operational by 2030.
The takeaway
The redevelopment of the former DOE site in Southeast Ohio represents a significant economic opportunity for the region, bringing billions in investment and creating thousands of new jobs. The partnership between SoftBank Group and American Electric Power demonstrates the potential for public-private collaboration to drive economic growth in underserved areas.
