General Electric, the US conglomerate, is set to help build Mongolia’s first wind energy park in a $100m deal with Newcom, a Mongolian private investment company.

The agreement marks GE’s entry into a market it hopes will generate infrastructure contracts that could help make up for slower growth in mature markets.

“Our order volume in Mongolia exceeds $100m in the near term, with this project accounting for about half of that,” said John Rice, vice-chairman and chief executive of GE’s Global Growth & Operations.