One ocean axis.
Eight production sites.
The site decides everything.
The Levante Corridor is a portfolio of green ammonia and methanol export sites along the Atlantic seaboard, each screened on measured wind and solar data. The Atlantic sites route to European demand with no chokepoint to transit; the screen is the work, telling us which sites are worth developing, on whose figures, and what each would need to reach FID.
We stopped shipping the constraint.
We moved to the resource.
Green fuel projects fail on their scarcest input, not their best one. Renewable electricity, water and air are abundant. Compliant carbon is not. So the portfolio is built ammonia-first, drawing nitrogen from air, and carries a methanol slice only where a genuine local biogenic carbon source already exists. Dakhla is one of two sites where it does.
Every site is sized from its product target backward through hydrogen stoichiometry, then screened against measured wind and solar data rather than reanalysis estimates. Sites that clear the screen advance. Sites that do not are documented as honestly as the ones that do.
Eight sites. One screen.
The southern Atlantic anchor. 50% measured wind, the coldest cooling water in the portfolio, and the best pure-ammonia margin at 29%. Strong economics; the real constraint is land, the prime concession is already held.
Read the briefThe infrastructure-rich site. 45% Gulf of Suez wind and an existing green-ammonia cluster. A small methanol slice on local industrial CO₂, no certificate premium.
Read the briefThe flagship, detailed in full. The one site that can clear coverage on its biogenic premium rather than an offtake floor, once the premium is secured by contract.
Full projectThe strongest measured wind in the portfolio at 50% capacity factor, anchored on a 2024 mast and Lidar study. Pure ammonia, so the margin needs an H2Global-style floor to clear the lender threshold.
Read the briefThe lowest-execution-risk play, backed by a decade of operating data from the adjacent 301 MW Tarfaya wind farm. Regulatory adjacency to OCP's ammonia programme.
Read the briefThe North Atlantic hedge. 49% measured sub-arctic wind, wind-only with free ambient cooling, in a AAA jurisdiction. Premium-free, so the thin ammonia margin needs an offtake floor; its value is diversification inside the Canada-Germany corridor.
Read the casePure-ammonia sites carry no certificate premium, so the ammonia price sits as open risk. An EU Hydrogen Bank or H2Global offtake floor converts that price to contracted revenue, which is what makes these three bankable.
How the financing worksRejected as a wind-and-solar export play, recovered as a hydro-anchored fertiliser project. Firm Konkouré hydro turns it EBITDA-positive; financed through development capital for food security, not commercial gearing.
Read the caseThe portfolio's one Asia-facing position, held as an option rather than a build. Negative EBITDA on its own resource, but it faces Japan and Korea while every other site competes for the European molecule. Advisory-led, alongside HyPort and BP.
Read the caseNeither clears the build track on its own resource, and the site says so. Boké was re-architected onto hydro; Duqm is held for market access until a trigger converts it. The same screen that ranks the flagship is what defines their honest place.
The methodologyDevelop. Structure. Advise.
How a site moves from a coordinate to a financeable project: output-anchored mass balance, measured-resource screening, bottom-up CAPEX, and a capital structure tested against the lender coverage floor.
See the methodThe flagship worked end to end: 500 kT methanol and 150 kT ammonia, a bottom-up $7.57B build, $371M EBITDA at a 48% margin, and the capital structure that clears the floor.
See the projectHow a green fuel project is structured to reach FID: offtake architecture, the capital stack, and the development-finance and grant blending the molecule economics have to clear. The demand from FuelEU Maritime is the market the project sells into, read from the supply side.
Our advisory work