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Caledonia Mining Corporation and CrossBoundary Energy are considering expanding the 12.2-megawatt (MW) solar plant at Blanket Mine, following the facility’s official handover.
By Ryan Chigoche
Commissioned in February 2023, the solar plant was initially owned and operated by Caledonia Mining Services (CMS), a wholly owned Zimbabwean subsidiary of Caledonia Mining.
CMS oversaw the plant’s daily operations, ensuring stable and reliable power tailored to the mine’s needs—an essential step toward energy security in a power-constrained sector.
That arrangement shifted in September 2024 when CrossBoundary Energy Holdings (CBE), an independent renewable energy investor active across Africa, won a competitive bidding process.
The acquisition was finalized on April 11, 2025, for a pre-tax cash consideration of $22.35 million.
The solar plant currently provides around 25% of Blanket Mine’s daily energy requirements, but CrossBoundary is already looking ahead to potential upgrades and expansion.
Speaking at the official handover ceremony held at Blanket Mine in Gwanda, CrossBoundary Energy Chief Regulatory Officer Tessa Lee said:
“Looking ahead, CrossBoundary is working closely with the Caledonia Mining Corporation and Blanket Mine team to explore further expansions to renewable energy provision on this site under a phased approach. The solar plant currently meets around 25% of the mine’s energy needs, and further investment could excitingly unlock greater efficiency and alignment with Caledonia’s long-term energy strategy and sustainability goals. We would like to thank the entire Caledonia and Blanket Mine team for the excellent partnership we have built thus far and for the continued trust in CrossBoundary Energy to deliver clean energy to your mines.”
Under the new arrangement, CrossBoundary will manage all maintenance and operations of the solar facility, while Caledonia focuses on its core gold mining business. The transition allows both parties to play to their strengths, with Caledonia continuing to benefit from clean energy through an exclusive power purchase agreement (PPA).
Since its commissioning, the plant has produced more than 33,000 megawatt-hours (MWh) of clean electricity, reducing reliance on expensive diesel and the national grid. The sale also delivered financial returns, as Caledonia originally constructed the facility at a cost of $14.3 million.
Victor Gapare, Director at Caledonia Mining Corporation, described the handover as a milestone in the company’s sustainability journey.
“And now, we are going through this process of strategic collaboration with CrossBoundary Energy, who so far have been an outstanding partner—and we hope will continue to be one going forward. Thank you. This handover signals not an ending, but a continuation of shared efforts towards responsible and sustainable mining. Beyond our operational achievements, we remain deeply committed to uplifting the communities that support our work,” Gapare said.
Blanket Mine, one of Zimbabwe’s largest underground gold producers, has positioned itself as a leader in green energy adoption within the mining sector.
The development of a dedicated solar facility not only demonstrates Caledonia’s environmental commitment but also addresses one of the mining industry’s biggest operational challenges—access to reliable, affordable energy.
While ownership of the asset has changed, Caledonia’s access to solar-generated electricity is secured through the PPA with CrossBoundary.
This continuity ensures the mine remains powered by renewable energy, while freeing up capital for other strategic areas such as exploration and plant upgrades.
The Blanket Mine solar plant now serves as a model for how mining companies in Zimbabwe and across Africa can leverage renewable energy partnerships to improve operational sustainability, reduce emissions, and enhance profitability in a high-cost energy environment.
