FuelCell Energy financing for the Gyeonggi Green Energy project in South Korea is complete after the company closed the second tranche of a $49 million package supported by the Export-Import Bank of the United States, or EXIM.
Key Takeaways
- The approximately $24.7 million second tranche is stated before closing and transaction fees.
- The financing supports delivery of five 2.8-megawatt fuel cell blocks.
FuelCell Energy financing reaches completion
FuelCell Energy announced the completion on October 29, 2026. EXIM approved the package in June, with financing structured under its loan guarantee program.
The transaction was arranged with Private Export Funding Corporation and supported by AF Capital. It follows other EXIM-supported financing completed by FuelCell Energy in 2024 and 2025.
Equipment for the Gyeonggi project
The financing supports the delivery of five FuelCell Energy Blocks to Gyeonggi Green Energy. Each block has a capacity of 2.8 megawatts. The company did not say in its completion announcement that delivery had been completed.
FuelCell Energy said the Gyeonggi site has nearly 60 megawatts of installed capacity and has operated continuously for 13 years. The company manufactures its fuel cell platforms in Torrington, Connecticut, and says more than 90% of its supply chain is sourced from the United States.
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