LAHORE - Fauji Foundation Tuesday entered into an agreement for equity commitments of approximately Rs 6 billion (of which approx. $20 million is being provided as Foreign Direct Investment) by CapAsia Singapore through the Islamic Infrastructure Fund managed by them. Islamic Infrastructure Fund is primarily funded by Islamic Development Bank and Asian Development Bank, says a press release. The two wind farms of 50 MW each to be established are located in Gharo Sindh with total project cost estimated to be $260 million. These two projects will be implemented through Special Purpose Vehicles, namely Foundation Wind Energy-I Limited (formerly Beacon Energy Limited) and Foundation Wind Energy-Il (Pvt) Limited (formerly Green Power (Pvt) Limited). The sponsors of these Projects are Fauji Foundation, Fauji Fertilizer Bin Qasim Ltd, Tapal Group and CapAsia, which is their first investment in Pakistan. Pakistan has huge potential for wind energy more then 20,000 MW capacity can be harnessed in the wind corridor at Gharo and Thimpir, Sindh. Accordingly, Fauji Foundation has targeted establishing four projects in Sindh, one of which, FFC Wind Energy is being implemented by Fauji Fertilizer Company. FFC Wind Energy has already achieved Financial Close.