In Michael Lewis book Boomerang [0], there is a chapter about Iceland and he mentions geothermal.
My understanding:
- b/c of geothermal, huge amounts of electricity are available for low cost
- Iceland being an island makes it VERY expensive to build/transport goods back and forth
- The above combo means that aluminum smelting is the only industry where the electricity availability outweighed the costs of transport and being on an island.