XsunX Inc. (XSNX.OB) is a solar technology company engaged in the build-out of its multi-megawatt amorphous thin film photovoltaic (TFPV) solar manufacturing facilities in Oregon. The company has focused its efforts on the development of thin film amorphous technologies and products due to inherent advantages of amorphous silicon over other solar absorbers.
In June 2008, XsunX announced efforts to develop business relationships directly with utilities working to meet governmental renewable energy mandates. In July 2008, the company responded to requests for proposals from utilities and government agencies in the western US. Currently XsunX has provided proposals to utilities and government agencies representing approximately 6 megawatts of solar power fields to be built by XsunX and sold to the operators, and another 4.1 megawatts of solar power fields to built and operated by the company.
In addition to these proposals, XsunX is currently in various stages of preparing proposals for another 11 megawatts of solar power fields to be operated by the company and another 50 megawatts of solar power field construction for delivery to independent operators. The company is targeting projects for development over the next 3 to 5 years with start dates beginning in 2009.
XsunX recently received notice that the company was the successful bidder on one of the smaller projects. The project is a 100kW government facility in Oregon. This particular project is a proposed rooftop solar site that XsunX would operate under a power purchase agreement, selling the power produced to the agency over a 15- to 20-year period.
XsunX’s CEO Tom Djokovich stated, “While this is one of the smaller projects we have bid, we are very excited about beginning to load our sales channel with projects that we believe offer greater long term revenue generating opportunities for us.”
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