FC-1: Fuel Cells Financing Initiative for Distributed Generation Applications (Phase 1)

Project Summary

Promote commercial use of fuel cells in distributed generation applications. Stage 1 starts with three pilot installations, each as a separate stand-alone deal (and separate Council work program submission), to test the financing and business models for distributed generation investments with fuel cells. State 2, which only starts once the industry achieves specified cost reduction milestones, provides an umbrella financing program for scaling up the financing and business models piloted in Stage 1. Project $18 mil. Stage 1 and $90-135 mil. Stage 2. GEF $9 mil. Stage 1 and $45 mil. Stage 2.

Project Details

GEF Project ID
Project Type
Full-size Project
Concept Approved
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
International Finance Corporation
GEF Period:
GEF - 3
Approval Fiscal Year:


Project Preparation Grant Amount
25,000 USD
GEF Project Grant
6,550,000 USD
Co-financing Total
GEF Agency Fees
922,000 USD
Total Cost 6,575,000.00 USD

Project Timeline

Received by GEF
20 May 2003
Preparation Grant Approved
01 Jan 2003
Concept Approved
01 Nov 2003
Project Approved for Implementation
Project closed
29 Aug 2011