Japan, US set to launch $73 billion energy megaprojects

The United States and Japan are strengthening their energy partnership, agreeing on major investments totalling up to $73 billion.

The agreement covers three large-scale projects aimed at providing the US with new energy sources and supporting growing demand, including from artificial intelligence data centres, Caliber.Az reports per the White House press office.

A key focus is the construction of next-generation small modular reactors (SMRs), implemented through a joint venture between Hitachi and GE Vernova in Tennessee and other US regions. Japan will allocate up to $40 billion for nuclear energy development.

An additional $33 billion is planned for building modern gas-fired power plants in Pennsylvania and Texas to meet the rising needs of the US economy and technology sector.

These investments are part of the second phase of Japan’s commitments to fund US projects totalling $550 billion, established under the bilateral trade agreement.

By Jeyhun Aghazada