Securities and Exchange Commission
Washington, DC 20549
Form 8-K
Current Report
Pursuant to Section 13 to 15(d) of the
Securities Exchange Act 1934
Date of Report April 17, 1996
(Date of earliest event reported)
CalEnergy Company, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-9874 94-2213782
(State of other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
302 South 36th Street, Suite 400, Omaha, NE 68131
(Address of principal executive offices) Zip Code
Registrant's Telephone Number, including area code:(402) 341-4500
N/A
Item 2. Acquisition or Disposition of Assets
On April 17, 1996, the Registrant completed the
acquisition of Edison Mission Energy's 50% interest in four
geothermal facilities at Imperial Valley, California, for a
cash purchase price of $70 million, resulting in the
Registrant owning an additional 74 net MW of generating
capacity. The acquisition involved the sale to a subsidiary
of the Registrant by Edison Mission Energy of 100% of the
stock in four of its subsidiaries which own general and
limited partnership interests in four geothermal energy
projects currently operated by an affiliate of the Registrant.
The Registrant previously reported this event as Item 5 on
Form 8-K dated April 12, 1996.
Item 7. Financial Statements and Exhibits
Exhibit 1 - Press Release dated April 17, 1996.
Financial Statements will be filed at a later date as part of
an amendment to this Form 8-K.
SIGNATURE
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.
CalEnergy Company, Inc.
By: \s\ Douglas L. Anderson
Douglas L. Anderson
Assistant Secretary
Dated: May 2, 1996
Exhibit 1
FOR IMMEDIATE RELEASE
John G. Sylvia - Senior Vice President, Chief Financial Officer 402-341-4500
Dale R. Schuster - Vice President, Administration 402-341-4500
CalEnergy Closes Imperial Valley Acquisition
OMAHA, NEBRASKA, April 17, 1996 --- CalEnergy Company,
Inc., formerly known as California Energy Company, Inc.
("CalEnergy") (NYSE, PSE and LSE symbol: CE) announced today
that it has completed the acquisition of Edison Mission
Energy's partnership interests in four geothermal facilities
in California for a cash purchase price of $70 million.
The four projects, Vulcan (34 net MW), Hoch (Del Ranch) (38
net MW), Leathers (38 net MW) and Elmore (38 net MW), are
located in the Imperial Valley of California. CalEnergy
operates the facilities and sells power to Southern California
Edison Company under long-term contracts. Prior to this
transaction, CalEnergy was a 50% owner of these facilities and
the acquisition of Edison Mission Energy's 50% interest
results in CalEnergy owning an additional 74 net MW of
generating capacity.
David Sokol, Chairman and Chief Executive Officer said, "We
are pleased to have closed the acquisition of the remaining
50% interest in the Imperial Valley Partnership projects. This
acquisition brings us many benefits, including increased
operating flexibility, cost savings and efficiencies as well
as earning an attractive return on our investment."
CalEnergy Company, Inc., a leading independent power
producer, is an international developer, owner and operator of
environmentally responsible power generation facilities. Its
thirteen operating facilities produce 575 net MW of power,
with 745 net MW under construction and in excess of an
additional 1,400 net MW currently under award or contract.
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