Par Pacific, Mitsubishi, and ENEOS join for renewable fuels production in Hawaii
Hawaii Renewables aims to become the state’s largest renewable fuel facility by the end of 2025.
Par Pacific Holdings, Mitsubishi Corporation, and ENEOS Corporation have signed definitive agreements to form a new joint venture, Hawaii Renewables, focused on producing renewable fuels at Par Pacific’s Kapolei refinery in Hawaii. The move marks a major step toward decarbonizing Hawaii’s energy and transportation sectors while strengthening regional fuel security.
As part of the agreement, Mitsubishi and ENEOS will establish Alohi Renewable Energy, which will invest $100 million to acquire a 36.5% stake in Hawaii Renewables. Par Pacific will retain the majority ownership and lead project execution and operations through its affiliate, Par Hawaii Refining.
“We are thrilled to partner with Mitsubishi and ENEOS through the formation of this strategic joint venture,” said Will Monteleone, President & CEO of Par Pacific. “Creating the Hawaii Renewables joint venture brings together the best of our three organizations and yields additional scale and expertise across feedstock origination, commercial optimization, and market access throughout the Pacific Basin.”
Currently under construction, the facility is expected to be completed and fully operational by the end of 2025. Once online, Hawaii Renewables will become the largest renewable fuels plant in the state, with an expected annual production of 61 million gallons of renewable diesel (RD), sustainable aviation fuel (SAF), renewable naphtha, and low-carbon liquified petroleum gases.
Designed for flexibility, the plant will be capable of producing up to 60% SAF to meet the growing demand for low-emission aviation fuel across Hawaii’s travel-intensive market. It will also be equipped to shift production to renewable diesel depending on market conditions and will use diverse feedstocks, processed with Lutros’ advanced pretreatment technology.
