Par Pacific to form Hawaii renewable fuels joint venture with Mitsubishi and ENEOS
Par Pacific signed a definitive agreement to form ProjectCo, a joint venture for a renewable fuels facility co-located with its Kapolei Refinery in Hawaii. Alohi, owned by Mitsubishi and ENEOS, will hold a 36.5% stake for $100 million in cash, while Par Pacific keeps the remaining interest and runs the project; closing is expected in the second half of 2025.
Key points
- Alohi Renewable Energy, owned by Mitsubishi and ENEOS, will hold 36.5% of ProjectCo for $100 million in cash
- Par Pacific will commit cash contributions of up to $21,039,382, less qualifying construction costs from July 1, 2025 to closing
- Facility is expected to be completed and operational by the end of 2025, producing about 61 million gallons per year
- Transaction is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals
The filing
Written by AI on Nov 8, 2026, 1:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 21, 2025.
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