I agree with this. If a well balanced system is designed, similar to an aquaponics system, you can get a stable and more diverse output with algae like electricity, livestock feed, bioplastics, fertilizer for land restoration, etc..
http://en.wikipedia.org/wiki/Algaculture
http://theaquaponicsource.com/what-is-aquaponics/
One could use local sources of initial nutrition for the algae, similar to the fish waste fertilizing the vegetation in an aquaponics system.
The algae will massively multiply, then will be harvested, dried, and pressed for the extraction of biodiesel to run a generators. and the waste byproduct which is the algae remains could be either used as feedstock, fertilizer, or can be used for a biomass burning plant to generate more energy.