JFE Holdings and Mitsubishi Expand Partnership for Power and Data Center Project in Japan

JFE Holdings and Mitsubishi Corp. have signed a second memorandum of understanding to advance their joint power and data center project in Japan. The agreement follows an initial feasibility study and aims to establish a sustainable energy solution for the growing data center market.

• JFE Holdings and Mitsubishi sign a second MOU for a power and data center project in Japan.
• The project will utilize a 190 MW power plant and aim to start a 60 MW data center by fiscal year 2031.
• The data center will be built on approximately five hectares of land in the Ohgishima area.
• The collaboration includes plans to explore greener energy sources, including a hydrogen hub.
• The project is intended to meet rising demand for data centers and support Japan's industrial growth.
• JFE and Mitsubishi shares are currently trading lower on the Tokyo Stock Exchange.