FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) February 4, 2000
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COSO POWER DEVELOPERS
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(Exact name of registrant as specified in its charter)
California
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(State or Other Jurisdiction
of Incorporation)
333-83815 94-3102796
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(Commission File No.) (IRS Employer
Identification No.)
1114 Avenue of the Americas, 41st Floor, New York, New York 10036-7790
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 921-9099
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. Other Events
Coso Finance Partners (the "Navy I partnership"), Coso Energy
Developers (the "BLM partnership"), Coso Power Developers (the "Navy II
partnership", and, together with the BLM partnership and the Navy I partnership,
the "Coso partnerships"), each an affiliate of Caithness Coso Funding Corp.,
have entered into confidential settlement agreements with mutual releases of the
parties thereto with no admission of liability, to resolve the following
litigation proceedings involving the Coso partnerships: the Edison litigation,
the Dow litigation and the Fuji litigation. The Edison litigation, the
settlement of which is subject to California Public Utilities Commission
("CPUC") approval, involved, among other things, claims by Southern California
Edison Company and its affiliates ("Edison") of surreptitious venting of certain
non-condensable gases, claims for other damages and various cross-claims made by
the Coso partnerships and their affiliates. The Dow litigation involved claims
for damages incurred by the BLM partnership prior to 1998 as a result of
problems associated with the installation by the Dow Chemical Company in 1992 of
a hydrogen sulfide abatement system at the BLM partnership's project. The Fuji
litigation involved a breach of warranty claim related to the Coso partnerships'
eight geothermal turbine rotors purchased from Fuji Electric Co. and its
affiliates.
The aggregate financial result of the settlements described
above (subject, in case of the Edison settlement, to CPUC approval) will not
have a material financial effect on Caithness Coso Funding Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
COSO POWER DEVELOPERS
a California corporation
By: /s/ Christopher T. McCallion
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Christopher T. McCallion
Executive Vice President and
Chief Financial Officer
Dated: February 23, 2000
