"I joined the company with the aim of significantly growing the business and getting the company listed on the stock exchange," Kärmas said in the market notice published Wednesday morning.

"When we started, we had a team of 90 employees and production units were located only in Estonia, plus one power plant in Latvia," he recalled. "We now operate in five countries with a team of 127 dedicated employees."

According to the company executive, once projects still under construction are complete, Enefit Green's total production capacity will grow to more than double what it was seven years ago.

The company also has an investor community totaling 64,000 shareholders, he added.

Andrus Durejko, chair of the supervisory board of Enefit Green, noted that under Kärmas' leadership, the company has grown into the largest wind energy producer in the Baltics as well as one of the largest companies listed on the Nasdaq Baltic stock exchanges.

"Activities have been expanded to Finland, Latvia, Lithuania and Poland, and a successful listing of shares has been carried out," Durejko said, praising the company and its team.

Kärmas has served as a member of the management board and CEO of Enefit Green since July 5, 2017. Currently serving on the board alongside Kärmas are COO Innar Kaasik, CFO Veiko Räim and CDO Andres Maasing.

Enefit Green, the renewable energy subsidiary of listed Estonian state-owned energy group Eesti Energia, is likewise listed on Nasdaq Tallinn.

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