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We consider a novel power allocation scheme for a frequency-selective fading channel with two coordinated transmission points (CTP) transmission. In order to maximize the channel's throughput, closed form solutions are obtained by solving a non-convex constrained optimization problem. The solution which we name it joint water-filling (Jo-WF) turns out to take the form of traditional WF and also combined with regular cooperative feature. Numerical results are presented to verify the optimality of the derived scheme and to show throughput gains over traditional non-coordinated WF and equal power allocation (EPA).