NextEra Energy Inc. (NYSE: NEE) announced that President Donald Trump has approved the development of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.

The approval connects to Japan's $550 billion investment commitment to the United States as part of a U.S.-Japan trade deal. The projects would be jointly owned by Japan and the U.S. under the trade agreement structure, with NextEra Energy building and operating the facilities.

The investment remains subject to negotiation and execution of definitive documents by NextEra Energy and various constituents, as well as the company's completion of development, construction and commissioning of selected projects.

The projects include NextEra Energy's previously disclosed Texas hub developed in coordination with Comstock Resources. The company stated the projects are designed to support growing electricity demand, strengthen the U.S. industrial base and serve large-scale users including data centers and advanced manufacturing.

"America needs more power, and NextEra Energy is ready to deliver," said John Ketchum, chairman, president and CEO of NextEra Energy. "We are pleased that our Texas and Pennsylvania hubs have been selected to advance the President's goal of American energy dominance."

NextEra Energy reported it currently has close to 30 hubs in its inventory at various stages of development and is working toward a target of approximately 40. The company believes its hub strategy can reduce development timelines and execution risk.

NextEra Energy will continue advancing development activities, including working toward definitive documentation with various constituents and engaging with potential customers while coordinating with federal, state and local stakeholders.