10 projects to watch: energy transition projects approaching final investment decision in 2025

Canada, Alberta

US$16.5bn Pathways Alliance JV Pathways Alliance CCS Project

Pathways Alliance’s development of a carbon capture and storage (CCS) project in Alberta will capture CO2 from up to 20 oil sands facilities in Fort McMurray, Christina Lake and Cold Lake to a carbon storage hub near Cold Lake. CO2 will be transported via a 400km pipeline and stored in a saline aquifer. The developers aim to reach FID in 2025.

UK, Teesside

US$1bn Alfanar Lighthouse Green Fuels SAF Project

The sustainable aviation fuel (SAF) production facility in Teesside, England is expected to produce approximately 180m litres of SAF and 30m litres of green naphtha each year from household and commercial waste. The project is progressing through front-end engineering design, and FID could take place before the end of 2025.

Netherlands, Rotterdam

US$1bn TotalEnergies Aramis Carbon Capture and Storage Project

TotalEnergies is developing transport infrastructure to enable offshore storage of CO2 from industrial clusters in the Netherlands. It received US$57.22m in EU funding for its construction. Contractors who are involved in front-end engineering design include Arup, Petrofac, Peritus International and Arup. FID is anticipated this year.

Greece, Euboea Prefecture

US$500m Lafarge Olympus Carbon Capture Project

The Milaki cement plant in Evia will be retrofitted to capture and liquefy 1m tonnes of CO2 annually. Air Liquide holds the front-end engineering design contract. The project secured €124.5m in May 2023. FID is expected by December 2025, with start-up planned for 2029.

Philippines, Nueva Ecija Province

US$2.25bn Solar Philippines Nueva Ecija (SPNEC) Terra Battery Energy Storage

Completion of the first phase, including 4.5GWh battery energy storage, is expected by February 2026. SPNEC has invited bids for EPC contracts to develop photovoltaic and battery storage facilities on the east and west sections of this phase. FID is expected in H1 2025.

Brazil, Ceará

US$3.58bn Fortescue Future Industries Pecém Port Green Hydrogen Plant

The facility is expected to produce approximately 305,000 metric tonnes of low-carbon hydrogen annually, with a total of 2.1GW of electrolyser capacity installed. An early investment decision was made in July 2024 – a precursor to an FID being reached, which is expected to take place in 2025.

Spain, Aragon

US$1bn Copenhagen Infrastructure Partners (CIP) Catalina Green Hydrogen Project Phase 1

Initially, CIP will install a 500MW electrolyser to produce more than 40,000 tonnes of green hydrogen annually, and 1.5GW of wind and solar power. Wood is the owner’s engineer, recently shortlisted as one the 16 hydrogen projects in Spain to receive a grant from the ‘Hydrogen Valleys’ programme. FID is anticipated this year.

UK, South Yorkshire

US$800m Fidra Energy Thorpe Marsh Green Energy Hub

A 1.4GW/3.1GWh battery energy storage facility is being developed near Doncaster, England. Sungrow has been contracted to supply its lithium-ion-based battery system for the project. FID is anticipated in April 2025, with the initial battery systems set to commence operations in early 2027.

Australia, Northern Territory,

US$8.5bn Allied Green Ammonia Pty Ltd Gove Green Ammonia Project

A 3GW green ammonia facility with a production capacity of 2,700 metric tonnes per day is being developed in Gove Peninsula, Northern Territory, Australia. Plug Power is the appointed electrolyser supplier. As of January 2025, an FID is expected by Q2 2025.

One to watch

US, Texas

US$250m Infinium Roadrunner eFuels Facility

Infinium’s first-of-a-kind power-to-liquids eFuels plant will produce sustainable aviation fuel from renewable power and waste CO2 (eSAF), along with eDiesel for the trucking and maritime industries, and eNaphtha for low-carbon plastics. Infinium’s proprietary electrofuels process will use CO2 captured from Kinetik’s gas gathering and processing system in the Permian Basin as a feedstock. In November 2024, International Airlines Group signed a 10-year purchase agreement with Infinium for eSAF to support its five airlines: Aer Lingus, British Airways, Iberia, LEVEL and Vueling. Brookfield Asset Management has committed US$1.1bn to advance the deployment of Infinium’s eSAF, eDiesel and eNaphtha projects globally. FID is expected during 2025, contingent on financial support.

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