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If there is one thing Iceland has plenty of, it's magma, which is why a recent discovery made by scientists from the Iceland Deep Drilling Project could hold serious potential for the country's geothermal energy supply.

Iceland currently harnesses one-third of its energy from geothermal sources, with each well producing up to 8 megawatts of electricity. Despite this, scientists from the Iceland Deep Drilling Project have recently discovered that magma geothermal power has the potential to generate five times that amount -- enough to seriously redefine Iceland's power generating capacity.