How an HSG graduate wants to make Vietnam's power supply green

When Kevin Junker landed in Saigon in 2021 in an almost empty plane, the pandemic was raging outside. Tourism was off limits, borders were closed – but he had a local employment contract with McKinsey, which was advising the Vietnamese government, in his pocket. That was the only reason he was allowed to enter the country at all.

Today, the 30-year-old still lives in Vietnam. In Saigon, the megacity on the Mekong River, the HSG and Cambridge graduate founded his startup SmartSolar in 2024. The company has already financed and built over 50 solar power systems in the country. Junker is learning Vietnamese every day, travelling around the country on his motorbike, enjoying the local food – and has a clear vision for his startup: ‘We want to supply Vietnam and later other countries in Southeast Asia with green, affordable energy.’

A rapidly growing market with gaps

Vietnam is undergoing radical change: it has around 100 million inhabitants, forecast economic growth of seven per cent for 2025 – and an appetite for energy that is growing by around ten per cent every year. The state has broken its electricity monopoly and set a target: by 2030, half of all buildings should be powered by solar energy.
The conditions are actually ideal: Vietnam has strong, constant sunlight – but the population has little access to loans. ‘Many Vietnamese simply cannot afford solar panels. Banks hardly ever grant loans, especially to smaller households,’ says Junker.

He knows the system. In 2022, he co-founded Vikki Digital Bank, which now has over 100,000 customers. With SmartSolar, he wants to close the financing gap.

The model: no purchase, no loan – just electricity

SmartSolar finances systems on rooftops and for small to medium-sized businesses with capital from international investors. The owners pay nothing for construction or maintenance. They only pay for the electricity the system produces – which, according to the start-up, is around 20 per cent cheaper than the state provider. ‘Because we install at low cost with local companies and use solar modules from Vietnam or China, our business model is profitable with the income from electricity bills,’ says Junker.

He financed the first two systems out of his own pocket. ‘I wanted to show that the business model has potential.’ Today, European investors such as Picus Capital and 2150, which focus on tech start-ups in the sustainability sector, are involved in SmartSolar.

From HSG and START Summit to Southeast Asia

Growing up near Bern, Junker was drawn to the wider world at an early age. He learned Chinese at HSG and spent exchange semesters at Harvard University and Tsinghua University in Beijing. ‘HSG has a very international atmosphere. Many students go on exchange semesters, which gives you access to a strong international network of universities,’ says Junker. His entrepreneurial thinking was also shaped at HSG – Junker mentions START Summit, Europe's largest start-up conference, which is organised by HSG students. After completing his Bachelor's degree in St. Gallen and a Master's degree in Cambridge, he joined McKinsey. The consultancy sent him around the world – as far as Vietnam.

‘I really wanted to go to Asia. In China, I saw how quickly things grow here – I knew that this was where I wanted to build something.’ Today, SmartSolar employs eight people and works with five partner companies that carry out local installations. ‘We create jobs – and we bring energy to where it is needed,’ says Junker.