HSBC channels US$ 90 million to Thailand’s state-owned utility EGAT through underwriting bonds. EGAT runs Thailand’s largest coal power station Mae Moh which has a capacity of 2,600 MW. Mae Moh is notorious for its health impacts in the region. In 2015, a group of villagers won a ten-year court battle against EGAT, forcing the utility to pay at least a meagre compensation for ruining their health. But EGAT still plans to expand the Mae Moh power station. Moreover, for the associated lignite mine - the largest in Southeast Asia - over 30,000 people were displaced.

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