Solar photovoltaic (PV) power advances in Mexico is improving the sector’s attractiveness to investors, according to the latest study by IHS Technology.

In the report, entitled IHS Emerging Markets Solar PV Tracker Q1 2014, Mexico went from being ranked the fifth market with the greatest PV potential in the world in the last quarter of 2013 to third in the first quarter of this year – only South Africa and Turkey outranked it.

According to the IHS report, Mexico has 300 MW of solar PV projects under construction, with work beginning on 100 MW of that in the last quarter of 2013.

The report added that a total of 327 MW of solar PV is expected to be installed in Mexico this year.

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