Sultan Al Nabulsi appointed as CEO of Badeel

The Water and Electricity Holding Company (Badeel) has announced the appointment of Sultan Al Nabulsi as its new Chief Executive Officer, marking a significant leadership transition for the Saudi energy and utilities platform.

Badeel, a wholly owned company of the Public Investment Fund, plays a central role in accelerating the Kingdom’s power generation and renewable energy ambitions. Al Nabulsi’s appointment signals a continued focus on strategic investment, operational discipline, and long-term value creation within the sector.

Al Nabulsi brings extensive experience in managing large-scale investment portfolios across the energy landscape. His expertise spans company formation, strategy development, KPI frameworks, business planning, governance structures, capital increases, and participation in initial public offerings (IPOs).

Prior to joining Water and Electricity Holding Company, Al Nabulsi held several senior leadership roles at the Public Investment Fund (PIF), most recently serving as Head of the Energy Services Investments Unit. He previously worked as Assistant Vice President for the Energy Sector and as a Financial and Investment Analyst.

During his tenure at PIF, he oversaw an energy investment portfolio valued at approximately SAR 5 billion. He also led negotiations with multiple stakeholders to conclude strategic agreements and memoranda of understanding, while structuring financing arrangements through loans and bond issuances to support sector growth.

Beyond executive leadership, Al Nabulsi holds board and committee memberships across leading power and renewable energy companies, chairing three of them, further underscoring his governance and oversight credentials.

Academically, he holds an Executive MBA from London Business School and a Bachelor’s degree in Finance from Prince Sultan University. He has also completed an intensive Credit Analysts Program delivered by the Saudi Industrial Development Fund in collaboration with Queen’s University.

In his new role, Al Nabulsi is expected to steer Badeel’s next phase of growth, with a mandate to strengthen its investment strategy, enhance operational performance, and build long-term sustainable value as the company advances its renewable energy and power generation ambitions in line with Saudi Arabia’s broader transformation goals.