Solar technology company XsunX has entered into a two-year supply contract for the sale of 4MW of it ASI-120 thin film photovoltaic (TFPV) solar modules to an Oregon-based firm specializing in commercial project development.

Tom Djokovich, CEO of XsunX, said: “This agreement represents approximately $10 million in total contract value with an initial 2MW slated for delivery in 2009, and the remaining 2MW balance for delivery in 2010.

“This sales contract underscores XsunX’s efforts to develop business and distribution relationships for its solar products in Oregon and extends to the creation of new jobs in Oregon’s renewable energy sector.”

Earlier in the last week of November 2008, XsunX announced that it had entered into a two-year supply contract for the sale of fifteen (15) megawatts of it ASI-120 TFPV solar modules to a full service solar power company specializing in commercial and solar farm projects located in the California and Hawaiian markets.

According to the company, the agreement represents approximately $37 million dollars in total contract value with an initial 5 megawatts valued at $13 million slated for delivery in calendar 2009, and the remaining 10 megawatt balance for delivery in calendar 2010. The recent passage of an eight year extension to the 30% Federal Investment Tax Credit is spurring renewed vigor in solar project demand and we are working to fill our projected production capacity over the next several years with additional purchase agreements.

XsunX is a thin film solar module manufacturing facility focused on delivering TFPV Solar Modules. Within the markets for solar products the company anticipates that growth in demand for solar products based on TFPV technologies will out perform the balance of the solar market.