The United States and Japan have announced new initiatives to strengthen their alliance, including major Japanese investments in US power generation capacities (White House, 19/03/2026).
GE Vernova Hitachi, the 50:50 joint venture of the US GE Vernova and Japanese Hitachi Group, will invest up to USD40bn to build small modular reactor power plants (SMRs) in Tennessee and Alabama (US). In addition, up to USD33bn will be invested in gas-fired power plants in Pennsylvania and Texas (US); around USD17bn should be directed to the 4.3 GW South Mon project developed by NextEra Energy Resources in south-western Pennsylvania, while USD16bn would be invested in a 5.2 GW gas-fired project in Anderson County, Texas.
These investments are the second tranche of the 2025 US-Japan Strategic Trade and Investment Agreement announced in February 2026, that included a 9.2 GW gas-fired power plant worth USD33bn to be developed by SoftBank's subsidiary SB Energy in the vicinity of Portsmouth, Ohio (United States) (US government press release, 17/02/2026).
In addition, "The United States and Japan reached a Critical Minerals Action Plan to increase the production and diversity of critical minerals, developing a plurilateral trade initiative supported by price floors or other measures."
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