Where Energies vs Premier Energies: which new energy bet now looks stronger for your portfolio?

While India insists on reducing its solar capacity in triple and dependence on coal by 2030, YES Securities believes that true energies and prominent energies, the twin flakes of the clean energy transition in the country, are best placed to capture this growth and target prices with “sale” calls. The brokerage, however, sees the larger scale and the global reach of Waije and gives it a decisive lead on his rival.

Yes, Securities noted that the GDP of India is expected to grow with a CAGR of 6-6.5% by 2030, driven by the rising energy demand. Renewable energy sources, in particular solar energy, are expected to win share at the expense of coal and petroleum products. The installed solar capacity has risen from 17 GW in 2017 to more than 106 GW in March 2025, with government goals that are 280 GW by 2030 Ping. Domestic production is rapidly expanding, supported by production -linked Incentive (PLI) schedules and import replacement policy.

Hot: larger scale, global edge

Where energy currently works 13.3 GW module and 5.4 GW cell capacity and has drawn up plans to reach 25.7 GW modules, 15.4 GW cells and 10GW waffles by FY27. The company is also doubling its American Texas capacity to 3.2 GW, which tackles premium margins by ACT-linked incentives in inflation.

“At FY28, where energy is ready to achieve a phenomenal 25.7 GW module capacity and 15.4 GW cell capacity, skilled by 14GW Ingot-Wafer facilities, 3.2 GW American modules, boundaries in Omverters, Bess and Green Hydrogen,” said the broker.

The EBITDA from Waiae is expected to rise to RS 82.4 billion in FY28 of RS 27.2 billion in FY25, with margins that grow by around 500 BPS to 24%. Yes, Securities has a target price of RS 4,610, so that the share is valued at 22x FY28 income.

The company reported an order book of 25 GW worth RS 490 billion from Q1 FY26, with 41% from India and 59% abroad. The presence of the retail trade comprises 388 franchise partners, in support of his push on the roof and SME -Zonne market.

Prime Minister: Domestic focus with steady growth

Premier Energies has 5.1 GW module and 3.2 GW cell capacity, aimed at 11.1 GW modules and 8.4 GW cells against mid-2026. It also adds 10 GW Ingot-Wafer capacity, 3GW-Om-Ondergerproduction and 12GWH storage systems by FY28. “By FY28, Premier Energies are planning to increase module production capacity from 5.1 GW to 11GW and cell capacity from 3.2GW to 10GW, and a prime minister fully tinted, observed. Prime Minister’s turnover doubled RS66.5 billion in FY25. Billion in FY25, with margins that extend slightly to 27.8%.

In contrast to true, Prime Minister has closed the export with approximately 4.2% of the FY25 income, with priority to the domestic version. The order book was at 5.5 GW (RS86BN) in June 2025 and made visibility for 12-15 months, with nearly 100% domestic mix and supported progress.

Why what looks stronger

Yes, Securities emphasized various reasons why which is expected to grow faster than Prime Minister. These include larger capacity goals, deeper backward integration in waffles, an important American production base and a considerably larger order book.

“Ebita is growing with a CAGR of ~ 46% for FY25-28th, while Premier Energies EBITDA for a CAGR of ~ 39% for the same period,” said the brokerage.

The brokerage also pointed to Waaaree’s stronger retail footprint, so that the fragmented demand for the roof can capture and expand bundled services, giving it a first mover benefit from Premier’s Nutschalspocus.

On Thursday, shares from Wae Energies fell by 2.6% to RS 3.509.90 on the BSE, while Premier Energies fell 2.3% to RS1.053.05.
Read also | OLA Electric vs Ather Energy Shares: Which EV bets now looks stronger for your portfolio?

(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)