In Hawaii, Par Pacific announced the successful closing of Hawaii Renewables, LLC, a joint venture to construct a renewable fuels facility and produce renewable fuels at Par Pacific’s refinery in Kapolei, Hawaii. Mitsubishi Corporation and ENEOS Corporation, through Alohi Renewable Energy LLC, acquired a 36.5% equity stake in Hawaii Renewables in exchange for cash consideration of $100 million. Par Pacific retained the remaining interest and will complete and operate the Renewable Fuels Facility through its affiliate, Par Hawaii Refining, LLC.
The Renewable Fuels Facility is expected to be completed by the end of the year and will be the state’s largest renewable fuels manufacturing facility, producing approximately 61 million gallons per year of renewable diesel, sustainable aviation fuel, renewable naphtha and low carbon liquified petroleum gases.