Online Reporter
Sukulwenkosi Dube-Matutu,[email protected]
ENERGY and Power Development Minister, July Moyo is set to hand over the 12.2 megawatt solar power plant, which was purchased by Cross Boundary Energy (CBE) in Gwanda.
Caledonia Mining Corporation, the owner of gold producer Blanket Mine in Gwanda, sold its 12.2-megawatt solar power plant to CBE in 2024 for US$22.35 million, unlocking a profit of US$14.3 million.
The sale, completed on 11 April 2025, strengthens Caledonia’s cash position and allows the company to redirect capital toward its core gold mining operations and strategic expansion in Zimbabwe.
CBE, a prominent developer and operator of distributed renewable energy systems across Africa, acquired the plant under a transaction that includes an exclusive power purchase agreement with Blanket Mine.
The solar plant was built to address the mine’s unreliable grid power supply and high reliance on diesel generators.
The plant was commissioned in early 2023 and provides approximately a fifth of the mine’s daily electricity needs.
The plant was commissioned in early 2023 and provides approximately a fifth of the mine’s daily electricity needs.
Despite the sale, the plant continues to supply power to Blanket Mine under a power purchase agreement.
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derick.khumalo