Japanese entities are in talks with JPMorgan and other foreign lenders to finance roughly $33 billion in natural gas power projects in Pennsylvania and Texas. These early-stage discussions involve potential guarantees from Nippon Export and Investment Insurance, Japan’s export credit agency. By mid-July 2026, only $2.2 billion had been committed against a near-term target of $33 billion, within Japan’s larger $550 billion US investment pledge. Japanese megabanks including MUFG, SMBC and Mizuho have massive balance sheets denominated in yen but struggle to secure dollar funding for these American projects.
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