Par Pacific completes Hawaii renewables joint venture
New partnership marks a major step toward renewable fuel production in the state.
Par Pacific Holdings has announced the successful closing of Hawaii Renewables, a joint venture established to build and operate a renewable fuels facility at Par Pacific’s refinery in Kapolei, Hawaii.
Through Alohi Renewable Energy, Mitsubishi Corporation and ENEOS Corporation have acquired a 36.5% equity stake in the venture for $100 million in cash, while Par Pacific retains the majority interest. The company’s affiliate, Par Hawaii Refining, will oversee completion and operation of the project.
Expected to be completed by the end of 2025, the Renewable Fuels Facility will become Hawaii’s largest producer of renewable fuels, with an annual output of approximately 61 million gallons of renewable diesel, sustainable aviation fuel, renewable naphtha, and low-carbon liquefied petroleum gases.
Headquartered in Houston, Par Pacific Holdings operates 219,000 barrels per day of refining capacity across four locations in Hawaii, the Pacific Northwest, and the Rockies. The company also manages 13 million barrels of storage capacity and a network of marine, rail, rack, and pipeline assets.
In addition to its refining and infrastructure operations, Par Pacific owns the Hele retail fuel brand in Hawaii and the nomnom convenience store chain in the Pacific Northwest. The company also holds a 46% stake in Laramie Energy, a natural gas producer based in Western Colorado.
The new joint venture reinforces Par Pacific’s strategy to expand renewable energy operations while maintaining its position as a key supplier of conventional fuels in the western United States.
