TORONTO, Ontario, Canada 3/1/12 (PennWell) -- Hydroelectric developer Riverbank Power and renewable energy conglomerate enXco (an EDF Energies Nouvelles Company) have entered into a joint venture agreement to develop pumped-storage facilities in North America.

Riverbank Power president John Douglas says the arrangement will allow the companies to work toward the "resurgence of this mature technology" so that renewables might "achieve their meaningful objectives."

A release says the companies will initially focus their efforts on large-scale development in the Pacific Northwest of the U.S.