An illustrative example fuel cell power plant includes a cell stack assembly having a plurality of fuel cells configured to generate electricity based on an electrochemical reaction. The power plant includes a capacitor, a plurality of inverters, and at least one controller that is configured to control the plurality of inverters in a first mode and a second mode. The first mode includes the cell stack assembly associated with at least one of the inverters. A cell stack assembly and the associated inverter provide real power to a load external to the fuel cell power plant in the first mode. The second mode includes at least a second one of the inverters associated with the capacitor. The capacitor and the second one of the inverters selectively provide reactive power to or receive reactive power from a grid external to the fuel cell power plant in the second mode.