Luminant and Mitsubishi Heavy Industries Ltd (MHI) have established a joint venture to further the development of Comanche Peak Units 3 & 4 using MHI’s US-Advanced Pressurized Water Reactor (US-APWR). The joint venture, known as Comanche Peak Nuclear Power Co., will fund project development costs during the period preceding the issuance of the combined license to build and operate Comanche Peak Units 3 & 4. Under the terms of the joint venture, Luminant holds an 88% ownership share in the company and MHI has a 12% stake. The joint venture will work toward the successful licensing of Units 3 & 4, each of which will be capable of producing 1700MW, or enough nuclear energy to power almost 875,000 average Texas homes. MHI has built 23 pressurized-water reactors that currently operate in Japan and has a 24th under construction. MHI also provides maintenance services to the plants once they are in operation. As previously announced, Luminant and MHI will seek official support for financing from the US and Japanese governments. The joint venture has submitted a loan guarantee application to the US Department of Energy.