Oxy-fuel combustion combined with CCS (carbon capture and storage) aims to decrease CO2 emissions in energy production using fossil fuels. Oxygen firing changes power plant boiler conditions compared to conventional firing. Higher material temperatures and harsher and more variable environmental conditions cause new degradation processes that are inadequately understood at the moment. In this study, an Fe-Ni-Cr-Al alloy was developed based on thermodynamic simulations. The chosen composition was manufactured as powder by gas atomization. The powder was sieved into two fractions: The finer was used to produce thermal spray coatings by high velocity oxy-fuel (HVOF) and the coarser to manufacture bulk specimens by hot isostatic pressing (HIP). The high temperature corrosion properties of the manufactured FeNiCrAl coating and bulk material were tested in laboratory conditions simulating oxy-combustion. The manufacturing methods and the results of high temperature corrosion performance are presented. The corrosion performance of the coating was on average between the bulk steel references Sanicro 25 and TP347HFG.