Energy Minister Andrew Parsons says government is hoping to have a fiscal framework in place in the very near future to accommodate the province’s burgeoning wind and hydrogen energy sector.

Parsons says companies invited to make bids on land available for wind development will not be doing so without a fiscal framework in place, and he’s hoping that will be released publicly very soon.

Newfoundland and Labrador will be the only jurisdiction outside Oman, on the Arabian Peninsula, to have a fiscal framework for wind energy, and the work is complex.

“We’ve measured three times here before we cut,” says Parsons “we’re not just going to toss something out only to have it crumble later on.”