Why would you build a $100M facility next to a wind farm and run it 85% of the time and only get 40% utilization through the year when you could build next to a dam and get 100%?

You'd build a $100m facility next to a wind farm because of access to cheap electricity part of the time, and buy the power from the Electricity Superhighway the balance of the time.

Of course, that assumes the existence of the Electricity Superhighway. And then the 5% line loss between the dam and the plant will cost much more per kWh than equivalent 5% line loss if built near the dam and buying cheap power from the wind farm via the Electricity Superhighway when the wind is strong. So you'd still locate near the dam.

You'd throttle demand for power based on current cost based on the trade-off between operating costs and capital costs ... and for the current technology, that trade-off likely says very little excess capacity can be purchased with the operating cost savings of increasing the share of ammonia produced with less expansive power ... which is why the lower capital cost technologies for ammonia production are intriguing.