Melting banks. A tumbling currency. More lousy Björk singles. Iceland’s
pride has taken a pummeling over the past year. But delegates at this
summit will discover that the Arctic nation still has one thing to
boast about: its ability to turn water into watts.
Hydroelectric dams generate more than 80% of Iceland’s electricity.
That cheap, clean power could reenergize the economy by attracting
electricity-hungry industries. Alcoa has opened a $1 billion aluminum
smelter in eastern Iceland, and Microsoft and Google are reportedly
considering the country as a data-center site. — Theunis Bates
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