The deep ocean contains the largest estimated deposits of minerals on the planet, potentially worth trillions of dollars.

The performance suggests investors remain wary of putting money into newly listed stocks in Hong Kong.

Renewables paired with energy storage are now cheaper than coal after the fuel’s price surged in recent months.

Energy minister Arifin Tasrif said countries had asked Indonesia for coal in the wake of sanctions on Russia.

The company joins peers Adani Group and JSW Energy in planning major investments in renewables as India strives to triple its clean power capacity to 500 gigawatts by the end of the decade.