ISLAMABAD (APP) - Pakistan and United States Sunday signed a wind power generation project, which will be completed in two years at a cost of $375 million (Rs32 Billion) to produce 150 MW of electricity. US Special Envoy for Afghanistan and Pakistan Richard Holbrooke and Secretary Water and Power Javed Iqbal on signed the document on the behalf of their respective governments in the federal capital at a local hotel. US Ambassador to Pakistan Cameron Munter, Director USAID Andrew Sisson, Chairman Alternative Energy Development Board Arif Allauddin and American Power Company (AES) Country Representative Muhammad Iqbal were also present on the occasion. The project will be located at three sites in the Gharo Corridor of Thatta near Karachi. It will improve the capacity of Pakistani govts capacity to address the critical energy needs and reduce the dependence on imported fuel and oil besides saving $45 million (Rs3.8 billion) per year in fuel cost. The project using new technology of 'clear power will serve about 600,000 homes in the area. Holbrooke in his brief address said it was a best example of public-private partnership between the two countries as Ministry of Water and Power would represent Pakistan while USAID, US Overseas Private Investment Corporation (OPIC) and American Power Company (AES) Corporation, a private company, were joining hands to address the important problem being faced by the people of Pakistan. Citing the move as a follow up of the instructions from Secretary of State Hillary Clinton that US should support Pakistan to resolve the energy crisis, Holbrooke said the environment friendly project would reduce Pakistans spending on the import of oil for producing electricity. He hoped that it would also encourage other investors, as he cited the successful example of Germany in producing wind energy. US Ambassador to Pakistan Cameron Munter said the project would provide a solid base to further enhance and promote mutual ties, adding that the US would spare no effort to expand cooperation with Pakistan.