One of Canada's windiest provinces is ending a long-standing moratorium on the development of wind energy.

Newfoundland and Labrador Energy Minister Andrew Parsons made the announcement today, saying the province's relentless winds are now available to be harnessed.

Parsons told reporters the moratorium was introduced in 2007 and he hopes it will be lifted in the coming months after his department works through some policy details.

He says the ban will be lifted for onshore wind turbines, and conversations are ongoing with the federal government about wind potential in the offshore region.

Meanwhile, Parsons announced jointly with federal Natural Resources Minister Jonathan Wilkinson that their governments have committed to "expedite" the elimination of subsidies for oil companies.

In a news release today, Parsons and Wilkinson said the province's oil industry regulator will now be mandated to oversee renewable energy as well as oil projects off the coast of Newfoundland and Labrador.