FORM 10-Q

(Mark One)
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934 For the quarterly period ended March 31, 2002
                                               --------------
                                       or

[_] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934 For the transition period from _______________to________________

Commission File Number:                    333-83815
                                           ---------

                          Caithness Coso Funding Corp.
                          ----------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                                  94-3328762
              --------                                  ----------
    (State or other jurisdiction of                  (I.R.S. Employer
     incorporation or organization)                Identification No.)


   Coso Finance Partners              California               68-0133679
   Coso Energy Developers             California               94-3071296
   Coso Power Developers              California               94-3102796
   ---------------------              ----------               ----------
 (Exact names of Registrants        (State or other         (I.R.S. Employer
as specified in their charters)     jurisdiction of        Identification No.)
                                    incorporation or
                                      organization)


565 Fifth Avenue, 29th Floor, New York, New York               10017-2478
-------------------------------------------------              ----------
   (Address of principal executive offices)                    (Zip Code)

                                 (212) 921-9099
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
                    (Former name, former address and former
                   fiscal year, if changed since last report.)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.                    [X] Yes [ ] No


                     APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practicable date.

          300 shares in Caithness Coso Funding Corp. as of May 7, 2002
          ------------------------------------------------------------


<PAGE>



                          CAITHNESS COSO FUNDING CORP.
                                    Form 10-Q
                      For the Quarter Ended March 31, 2002


PART I.  FINANCIAL INFORMATION                                          Page No.

ITEM 1.  Financial Statements


  Caithness Coso Funding Corp.
  Unaudited condensed balance sheets at March 31, 2002 and
    December 31, 2001                                                       4
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                          5
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                          6
  Notes to the unaudited condensed financial statements                     7

  Coso Finance Partners
  Unaudited condensed balance sheets at March 31, 2002 and
    December 31, 2001                                                       8
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                          9
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         10
  Notes to the unaudited condensed financial statements                    11

  Coso Energy Developers
  Unaudited condensed balance sheets at March 31, 2002 and
    December 31, 2001                                                      12
  Unaudited condensed statements of operations for the three-
    months March 31, 2002 and the three-months ended
    March 31, 2001                                                         13
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         14
  Notes to the unaudited condensed financial statements                    15

  Coso Power Developers
  Unaudited condensed balance sheets at March 31, 2002 and
    December 31, 2001                                                      16
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         17
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         18
  Notes to the unaudited condensed financial statements                    19


ITEM 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                         20


PART II. OTHER INFORMATION

ITEM 1.  Legal Proceedings                                                 29
ITEM 2.  Change in Securities and Use of Proceeds                          29
ITEM 3.  Defaults upon Senior Securities                                   29
ITEM 4.  Submission of Matters to a Vote of Security Holders               29
ITEM 5.  Other Information                                                 29
  Supplemental condensed combined financial information for the
    Coso Partnerships
  Unaudited condensed combined balance sheets at March 31, 2002
    and December 31, 2001                                                  31
  Unaudited condensed combined statements of operations for the
    three-months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         32
  Unaudited condensed combined statements of cash flows for the
    three-months ended March 31, 2002 and the three-months ended
    March 31, 2001                                                         33
  Notes to the unaudited condensed combined financial statements           34

ITEM 6.  Exhibits and Reports on Form 8-K                                  35


<PAGE>




                                            CAITHNESS COSO FUNDING CORP.
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)
<TABLE>
<CAPTION>


                                                                   March 31,      December 31,
                                                                     2002             2001
                                                                                     (Note)

 <S>                                                             <C>             <C>
Assets:
  Accrued interest receivable.......................            $    8,079       $    1,225
   Project loan to Coso Finance Partners............               122,550          122,550
   Project loan to Coso Energy Developers...........                96,250           96,250
   Project loan to Coso Power Developers............                84,200           84,200
                                                                   -------          -------

                                                                $  311,079       $  304,225
                                                                   =======          =======


Liabilities and Stockholders' Equity:
  Senior secured notes:
    Accrued interest payable........................            $    8,079       $    1,225
    9.05% notes due 2009............................               303,000          303,000
                                                                   -------          -------
                                                                   311,079          304,225
Stockholders' equity.................................                  ---              ---
                                                                   -------          -------

                                                                $  311,079       $  304,225
                                                                   =======          =======
</TABLE>


Note:     The condensed balance sheet at December 31, 2001 has been derived from
          the audited financial statements at that date but does not include all
          of the  information  and footnotes  required by accounting  principles
          generally  accepted  in the  United  States of  America  for  complete
          financial statements.





          See accompanying notes to the unaudited condensed financial statements

                                       4

<PAGE>


                          CAITHNESS COSO FUNDING CORP.
                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)


                                    Three-Months         Three-Months
                                       Ended                Ended
                                     March 31,            March 31,
                                        2002                 2001


Interest income.................     $   6,854            $  8,601
Interest expense................        (6,854)             (8,601)
                                        -------             -------

     Net income.................     $     ---            $    ---
                                        =======             =======





          See accompanying notes to the unaudited condensed financial statements

                                       5

<PAGE>


                                            CAITHNESS COSO FUNDING CORP.
                                    UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                                               (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                       Three-Months         Three-Months
                                                                           Ended                Ended
                                                                         March 31,            March 31,
                                                                            2002                 2001


<S>                                                                    <C>                  <C>

Net cash provided by (used in) investing activities.......              $    6,854           $   (8,601)
Net cash provided by (used in) financing activities.......                  (6,854)               8,601
                                                                            -------              -------

Net change in cash and cash equivalents...................              $      ---           $      ---
                                                                            =======              =======

</TABLE>



     See accompanying notes to the unaudited condensed financial statements

                                      6

<PAGE>


                          CAITHNESS COSO FUNDING CORP.
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS


(1)      Organization and Operations

Caithness Coso Funding Corp.  (Funding  Corp.),  which was incorporated on April
22,  1999,  is a  single-purpose  Delaware  corporation  formed to issue  senior
secured  notes  (Notes) for its own account and as an agent  acting on behalf of
Coso  Finance  Partners  (CFP),  Coso Energy  Developers  (CED),  and Coso Power
Developers  (CPD),  collectively,   the  "Partnerships."  The  Partnerships  are
California general Partnerships.

On May 28, 1999,  Funding Corp. sold $413,000 of senior secured notes.  Pursuant
to separate credit agreements  between Funding Corp. and each  Partnership,  the
net proceeds  from the offering of $110,000 of 6.80%  senior  secured  notes due
2001 and  $303,000  of 9.05%  senior  secured  notes due 2009 were loaned to the
Partnerships,  and  the  Partnerships  have  jointly  and  severally  guaranteed
repayment  on a senior  basis.  Payment of the Notes is provided for by payments
made by the Partnerships under their respective project loans.

Funding  Corp.  has no  material  assets  other than the loans,  and the accrued
interest thereon,  that have been made to the Partnerships.  Also, Funding Corp.
does not conduct any business,  other than issuing the senior  secured notes and
making the loans to the Partnerships.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information.  Accordingly, certain information and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with accounting principles generally accepted in the United States of
America  have been  condensed  or omitted  pursuant  to such  rules.  Management
believes that the disclosures are adequate to make the information presented not
misleading when read in conjunction with the financial  statements and the notes
thereto in the audited  financial  statements  for the year ended  December  31,
2001.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected for the full year.

                                       7

<PAGE>


                                                COSO FINANCE PARTNERS
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                     March 31,         December 31,
                                                                                       2002                2001
                                                                                                          (Note)
<S>                                                                                  <C>                <C>

Assets:
   Cash and cash equivalents.................................................        $  14,992          $     264
   Restricted cash and investments...........................................           23,766             21,325
   Accounts receivable, net..................................................            4,758              3,454
   Prepaid expenses & other assets...........................................              680                650
   Amounts due from related parties..........................................            2,104              9,362
   Property, plant & equipment, net..........................................          138,231            140,437
   Power purchase agreement, net.............................................           10,806             11,093
   Investment in New CLPSI Company, LLC......................................            3,981              4,005
   Deferred financing costs, net.............................................            2,445              2,524
                                                                                       -------            -------

                                                                                     $ 201,763          $ 193,114
                                                                                       =======            =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities..................................        $  17,268          $  17,578
   Amounts due to related parties............................................            3,367                561
   Project loans.............................................................          122,550            122,550
                                                                                       -------            -------
                                                                                       143,185            140,689
 Partners' capital...........................................................           58,578             52,425
                                                                                      --------            -------

                                                                                     $ 201,763          $ 193,114
                                                                                       =======            =======

</TABLE>




Note:     The condensed balance sheet at December 31, 2001 has been derived from
          the audited financial statements at that date but does not include all
          of the  information  and footnotes  required by accounting  principles
          generally  accepted  in the  United  States of  America  for  complete
          financial statements.





          See accompanying notes to the unaudited condensed financial statements

                                       8

<PAGE>


                              COSO FINANCE PARTNERS
                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)
<TABLE>
<CAPTION>

                                                                                     Three-Months       Three-Months
                                                                                         Ended              Ended
                                                                                       March 31,          March 31,
                                                                                          2002               2001

<S>                                                                                  <C>                <C>
Revenue:
   Energy revenues...........................................................        $  42,350          $   5,977
   Capacity revenues.........................................................            3,148                 76
   Interest and other income.................................................              474                135
                                                                                        ------             ------
          Total revenue......................................................           45,972              6,188

Operating expenses:
   Plant operating expenses..................................................            2,307              1,762
   Royalty expense...........................................................            2,212              3,770
   Depreciation and amortization.............................................            2,536              2,499
                                                                                        ------             ------
          Total operating expenses...........................................            7,055              8,031

          Operating income (loss)............................................           38,917             (1,843)

Other expenses:
   Interest expense..........................................................            2,775              2,984
   Amortization of deferred financing costs..................................               79                130
                                                                                        ------             ------
          Total other expenses...............................................            2,854              3,114

          Net income (loss)..................................................        $  36,063          $  (4,957)
                                                                                        ======             ======

</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       9

<PAGE>


                              COSO FINANCE PARTNERS
                  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                      Three-Months      Three-Months
                                                                                         Ended             Ended
                                                                                        March 31,         March 31,
                                                                                          2002              2001

<S>                                                                                  <C>                <C>

Net cash provided by (used in) operating activities..........................        $  47,122          $  (2,470)
Net cash provided by (used in) investing activities..........................           (2,484)               (18)
Net cash provided by (used in) financing activities..........................          (29,910)               ---
                                                                                       --------            -------

Net change in cash and cash equivalents......................................        $  14,728          $  (2,488)
                                                                                       ========            =======

</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       10

<PAGE>


                              COSO FINANCE PARTNERS
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS


(1)      Organization and Operation

Coso Finance Partners (CFP), a general Partnership,  is engaged in the operation
of a 80 MW power generation facility located at the China Lake Naval Air Weapons
Station,  China Lake California.  CFP sells all electricity produced to Southern
California Edison under a 24-year power purchase contract expiring in 2011.

(2)      Basis of Presentation

The accompanying  unaudited  condensed combined  financial  statements have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America for interim financial information. Accordingly, certain
information and footnote  disclosures  normally included in financial statements
prepared in accordance  with  accounting  principles  generally  accepted in the
United States of America have been condensed or omitted  pursuant to such rules.
Management  believes that the  disclosures  are adequate to make the information
presented not misleading when read in conjunction with the financial  statements
and the notes  thereto in the audited  financial  statements  for the year ended
December 31, 2001.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CFP  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Accounts Receivable and Revenue Recognition

Due to the uncertainty  surrounding Edison's ability to make payment on past due
amounts,  collection  was not  reasonably  assured  and  CFP had not  recognized
revenue  from  Edison for energy  delivered  during the period  November 1, 2000
through March 26, 2001. The provision for doubtful accounts  previously recorded
by CFP of $25.8  million for the  three-months  ended March 31,  2001,  has been
reclassified as a reduction of revenue to conform with the 2002 presentation.

On March 1, 2002, Edison reached certain  financing  milestones and paid CFP for
revenue  generated,  but not recognized for the period  November 1, 2000 through
March 26, 2001. For the three-month  period ended March 31, 2002, CFP recognized
revenue for energy  delivered  from  November 1, 2000 through  March 26, 2001 of
$37.3 million.

(4)      Reclassifications

Certain  other  reclassifications  have  been  made to the  2001  statements  of
operations to conform to the 2002 presentation.


                                       11


<PAGE>


                                               COSO ENERGY DEVELOPERS
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                      March 31,        December 31,
                                                                                        2002              2001
                                                                                                         (Note)
<S>                                                                                  <C>                <C>
Assets:
   Cash and cash equivalents.................................................        $  10,233          $     ---
   Restricted cash and investments...........................................            8,551              7,368
   Accounts receivable, net..................................................            4,132              2,939
   Prepaid expenses and other assets.........................................              526                849
   Amounts due from related parties..........................................              409                401
   Property, plant and equipment, net........................................          145,012            148,417
   Power purchase agreement, net.............................................           18,169             18,437
   Investment in Coso Transmission Line Partners.............................            2,710              2,738
   Investment in New CLPSI Company, LLC......................................              738                789
   Deferred financing costs, net.............................................            1,976              2,040
                                                                                       -------            -------

                                                                                     $ 192,456          $ 183,978
                                                                                       =======            =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities..................................        $   3,090          $   7,699
   Amounts due to related parties............................................           27,898             27,267
   Project loans.............................................................           96,250             96,250
                                                                                       -------            -------
                                                                                       127,238            131,216
   Partners' capital.........................................................           65,218             52,762
                                                                                       -------            -------

                                                                                     $ 192,456          $ 183,978
                                                                                       =======            =======

</TABLE>


 Note:    The  condensed  balance  sheet at December  31, 2001 has been  derived
          from  the  audited  financial  statements  at that  date  but does not
          include all of the  information  and footnotes  required by accounting
          principles  generally  accepted  in the United  States of America  for
          complete financial statements.







          See accompanying notes to the unaudited condensed financial statements

                                       12

<PAGE>


                             COSO ENERGY DEVELOPERS
                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                     Three-Months       Three-Months
                                                                                        Ended               Ended
                                                                                       March 31,           March 31,
                                                                                         2002                2001
<S>                                                                                  <C>                <C>
Revenue:
   Energy revenues...........................................................        $  40,429          $     756
   Capacity revenues.........................................................            3,051                 69
   Interest and other income.................................................              642                620
                                                                                        ------             ------
          Total revenue......................................................           44,122              1,445

Operating expenses:
   Plant operating expenses..................................................            2,605              2,361
   Royalty expense...........................................................               11              2,868
   Depreciation and amortization.............................................            4,059              3,946
                                                                                        ------             ------
          Total operating expenses...........................................            6,675              9,175

          Operating income (loss)............................................           37,447             (7,730)

Other expenses:
   Interest expense..........................................................            2,180              2,257
   Amortization of deferred financing costs..................................               64                 79
                                                                                        ------             ------
          Total other expenses...............................................            2,244              2,336


           Net income (loss).................................................        $  35,203          $ (10,066)
                                                                                        ======             ======


</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       13

<PAGE>


                                               COSO ENERGY DEVELOPERS
                                    UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                                               (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                    Three-Months       Three-Months
                                                                                       Ended              Ended
                                                                                      March 31,          March 31,
                                                                                        2002               2001

<S>                                                                                  <C>                <C>
Net cash provided by (used in) operating activities..........................        $  34,552          $     947
Net cash provided by (used in) investing activities..........................           (1,569)            (2,045)
Net cash provided by (used in) financing activities..........................          (22,750)               ---
                                                                                       --------             ------

Net change in cash and cash equivalents......................................        $  10,233          $  (1,098)
                                                                                       =======             =======


</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       14

<PAGE>


                             COSO ENERGY DEVELOPERS
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS


(1)      Organization and Operation

Coso Energy Developers (CED), a general Partnership, is engaged in the operation
of a 80 MW power generation facility located at the Coso Hot Springs, China Lake
California.  CED sells all electricity  produced to Southern  California  Edison
under a 30-year power purchase contract expiring in 2019.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information.  Accordingly, certain information and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with accounting principles generally accepted in the United States of
America  have been  condensed  or omitted  pursuant  to such  rules.  Management
believes that the disclosures are adequate to make the information presented not
misleading when read in conjunction with the financial  statements and the notes
thereto in the audited  financial  statements  for the year ended  December  31,
2001.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CED  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Accounts Receivable and Revenue Recognition

Due to the uncertainty  surrounding Edison's ability to make payment on past due
amounts,  collection  was not  reasonably  assured  and  CED had not  recognized
revenue  from  Edison for energy  delivered  during the period  November 1, 2000
through March 26, 2001. The provision for doubtful accounts  previously recorded
by CED of $26.0  million for the  three-months  ended March 31,  2001,  has been
reclassified as a reduction of revenue to conform with the 2002 presentation.

On March 1, 2002, Edison reached certain  financing  milestones and paid CED for
revenue  generated,  but not recognized for the period  November 1, 2000 through
March 26, 2001. For the three-month  period ended March 31, 2002, CED recognized
revenue for energy  delivered  from  November 1, 2000 through  March 26, 2001 of
$37.1 million.

(4)      Reclassifications

Certain  other  reclassifications  have  been  made to the  2001  statements  of
operations to conform to the 2002 presentation.


                                       15

<PAGE>


                              COSO POWER DEVELOPERS
                       UNAUDITED CONDENSED BALANCE SHEETS
                             (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                      March 31,          December 31,
                                                                                        2002                2001
                                                                                                           (Note)
<S>                                                                                  <C>                <C>
Assets:
   Cash and cash equivalents.................................................        $  13,187          $     ---
   Restricted cash and investments...........................................            5,556              5,517
   Accounts receivable, net..................................................            4,648              3,210
   Prepaid expenses and other assets.........................................              431                660
   Amounts due from related parties..........................................            5,559              6,139
   Property, plant and equipment, net........................................          121,603            124,665
   Power purchase agreement, net.............................................           22,122             22,820
   Investment in Coso Transmission Line Partners.............................            3,365              3,398
   Investment in New CLPSI Company, LLC......................................            1,890              1,913
   Deferred financing costs, net.............................................            1,682              1,736
                                                                                       -------             ------

                                                                                     $ 180,043          $ 170,058
                                                                                       =======            =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities..................................        $   7,377          $  15,860
   Amounts due to related parties............................................            3,710              7,778
   Project loans.............................................................           84,200             84,200
                                                                                       -------            -------
                                                                                        95,287            107,838
   Partners' capital............................................................        84,756             62,220
                                                                                       -------            -------

                                                                                     $ 180,043          $ 170,058
                                                                                       =======            =======


</TABLE>


Note:     The condensed balance sheet at December 31, 2001 has been derived from
          the audited financial statements at that date but does not include all
          of the  information  and footnotes  required by accounting  principles
          generally  accepted  in the  United  States of  America  for  complete
          financial statements.



          See accompanying notes to the unaudited condensed financial statements

                                       16

<PAGE>


                              COSO POWER DEVELOPERS
                  UNAUDITED CONDENSED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                    Three-Months       Three-Months
                                                                                       Ended              Ended
                                                                                      March 31,          March 31,
                                                                                        2002               2001

<S>                                                                                  <C>                <C>
Revenue:
   Energy revenues...........................................................        $  41,371          $  (2,623)
   Capacity revenues.........................................................            3,051                 69
   Interest and other income.................................................              482                358
                                                                                        ------            -------
          Total revenue......................................................           44,904             (2,196)

Operating expenses:
   Plant operating expenses..................................................            1,971              1,975
   Royalty expense...........................................................            1,057              3,712
   Depreciation and amortization.............................................            3,829              3,753
                                                                                        ------            -------
          Total operating expenses...........................................            6,857              9,440

          Operating income (loss)............................................           38,047            (11,636)

Other expenses:
   Interest expense..........................................................            1,908              2,075
   Amortization on deferred financing costs..................................               54                192
                                                                                        ------            -------
          Total other expenses...............................................            1,962              2,267

          Net income (loss)..................................................        $  36,085          $ (13,903)
                                                                                        ======            =======


</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       17

<PAGE>


                              COSO POWER DEVELOPERS
                  UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                    Three-Months       Three-Months
                                                                                       Ended              Ended
                                                                                      March 31,          March 31,
                                                                                        2002               2001


<S>                                                                                  <C>                <C>
Net cash provided by (used in) operating activities..........................        $  26,844          $    (911)
Net cash provided by (used in) investing activities..........................             (107)               366
Net cash provided by (used in) financing activities..........................          (13,550)               ---
                                                                                       --------             ------

Net change in cash and cash equivalents......................................        $  13,187          $    (545)
                                                                                       ========             ======


</TABLE>


     See accompanying notes to the unaudited condensed financial statements

                                       18

<PAGE>


                              COSO POWER DEVELOPERS
              NOTES TO THE UNAUDITED CONDENSED FINANCIAL STATEMENTS


(1)      Organization and Operation

Coso Power Developers (CPD), a general Partnership,  is engaged in the operation
of a 80 MW power generation facility located at the Coso Hot Springs, China Lake
California.  CPD sells all electricity  produced to Southern  California  Edison
under a 20-year power purchase contract expiring in 2010.

(2)      Basis of Presentation

The accompanying  unaudited condensed financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information.  Accordingly, certain information and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with accounting principles generally accepted in the United States of
America  have been  condensed  or omitted  pursuant  to such  rules.  Management
believes that the disclosures are adequate to make the information presented not
misleading when read in conjunction with the financial  statements and the notes
thereto in the audited  financial  statements  for the year ended  December  31,
2001.

The financial information herein presented reflects all adjustments,  consisting
only of normal recurring  adjustments,  which are, in the opinion of management,
necessary for a fair statement of the results for interim periods presented. The
results for the interim periods are not necessarily  indicative of results to be
expected  for  the  full  year.  CPD  has  experienced   significant   quarterly
fluctuations  in  operating  results and it expects that these  fluctuations  in
energy revenues, expenses and net income will continue.

(3)      Accounts Receivable and Revenue Recognition

Due to the uncertainty  surrounding Edison's ability to make payment on past due
amounts,  collection  was not  reasonably  assured  and  CPD had not  recognized
revenue  from  Edison for energy  delivered  during the period  November 1, 2000
through March 26, 2001. The provision for doubtful accounts  previously recorded
by CPD of $27.0  million for the  three-months  ended March 31,  2001,  has been
reclassified as a reduction of revenue to conform with the 2002 presentation.

On March 1, 2002, Edison reached certain  financing  milestones and paid CPD for
revenue  generated but not  recognized  for the period  November 1, 2000 through
March 26, 2001. For the three-month  period ended March 31, 2002, CPD recognized
revenue for energy  delivered  from  November 1, 2000 through  March 26, 2001 of
$38.0 million.

(4)      Reclassifications

Certain  other  reclassifications  have  been  made to the  2001  statements  of
operations to conform to the 2002 presentation.

                                       19

<PAGE>



ITEM 2.   Management's Discussion and Analysis of Financial Condition and
          Results of Operations

     Except for historical financial  information  contained herein, the matters
discussed in this quarterly report may be considered  forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities  Exchange Act of 1934, as amended,  and subject to
the safe harbor created by the Securities  Litigation  Reform Act of 1995.  Such
statements  include  declarations   regarding  the  intent,  belief  or  current
expectations  of Caithness Coso Funding Corp.  ("Funding  Corp."),  Coso Finance
Partners  ("the  Navy  I  Partnership"),   Coso  Energy   Developers  ("the  BLM
Partnership"),   and  Coso  Power  Developers  ("the  Navy  II   Partnerships"),
collectively,  (the "Coso  Partnerships") and their respective  management.  Any
such  forward-looking  statements are not guarantees of future  performance  and
involve  a number  of risks  and  uncertainties;  actual  results  could  differ
materially from those indicated by such  forward-looking  statements.  Among the
important  factors that could cause  actual  results to differ  materially  from
those  indicated by such  forward-looking  statements are: (i) risks relating to
the uncertainties in the California energy market,  (ii) the financial viability
of  Southern  California  Edison,  ("Edison"),  (iii)  the  information  is of a
preliminary nature and may be subject to further adjustment,  (iv) risks related
to the  operation of power plants (v) the impact of avoided cost  pricing,  (vi)
general  operating  risks,   including  resource   availability  and  regulatory
oversight,  (vii) the dependence on third parties,  (viii) changes in government
regulation,  (ix) the  effects  of  competition,  (x) the  dependence  on senior
management,   and  (xi)  fluctuations  in  quarterly  results  due  in  part  to
seosanality.


General

     The Coso Partnerships  consist of three 80MW geothermal power plants, which
are referred to as Navy I, BLM and Navy II, and their transmission lines, wells,
gathering  systems  and other  related  facilities.  The Coso  Partnerships  are
located near one another at the United States Naval Air Weapons  Center at China
Lake, California. The Navy I Partnership owns Navy I and its related facilities.
The BLM Partnership owns BLM and its related facilities. The Navy II Partnership
owns Navy II and its related facilities. Affiliates of Caithness Corporation and
CalEnergy Company, Inc. ("CalEnergy"),  which is now known as MidAmerican Energy
Holdings  Company,  formed  the  Coso  Partnerships  in the  1980s  to  develop,
construct, own and operate the Coso Partnerhips.  On February 25, 1999 Caithness
Acquisition  Company,  LLC, (CAC) purchased all of CalEnergy's  interests in the
Coso Partnerships for $205.0 million in cash, plus the assumption of CalEnergy's
and its affiliates'  share of debt  outstanding at the Coso  Partnerships  which
then totaled approximately $67.0 million.

     Each Coso Partnership  sells 100% of the electrical energy generated at its
plant to Edison under a long-term Standard Offer No.4 power purchase  agreement.
Each power purchase  agreement expires after the final maturity date of the 6.8%
Series B Senior Secured Notes and the 9.05% Series B Senior Secured Notes issued
by Funding Corp.

     Each Coso Partnership is entitled to the following payments under its power
purchase agreement:

     *    Capacity  payments  for being able to produce  electricity  at certain
          levels.  Capacity payments are fixed throughout the life of each power
          purchase agreement;

     *    Capacity  bonus  payments if the Coso  Partnership  is able to produce
          electricity  above  a  specified  higher  level.  The  maximum  annual
          capacity bonus payment  available is also fixed throughout the life of
          each power purchase agreement; and

                                       20

     *    Energy  payments which are based on the amount of electricity the Coso
          Partnership's plant actually produces.

     Energy  payments were fixed for the first ten years of firm operation under
each power purchase  agreement.  After the first ten years of firm operation and
until a Coso Partnership's power purchase agreement expires, Edison makes energy
payments  to the Coso  Partnership  based on  Edison's  avoided  cost of energy.
Edison's  avoided  cost of energy is Edison's  cost to generate  electricity  if
Edison were to produce it itself or buy it from another  power  producer  rather
than buy it from the Coso  Partnerships.  The power  purchase  agreement for the
Navy I Partnership will expire in August 2011, the power purchase  agreement for
the BLM Partnership will expire in March 2019, and the power purchase  agreement
for the Navy II Partnership  will expire in January 2010. The fixed energy price
period expired in August 1997 for the Navy I Partnership,  in March 1999 for the
BLM Partnership and in January 2000 for the Navy II Partnership.

     For the three-months ended March 31, 2002, the Coso Partnerships elected to
receive  from Edison a fixed  avoided cost of energy rate of 3.25 cents per kWh.
During that  period,  Edison's  annual  average  avoided cost of energy was 2.87
cents per kWh as compared to 15.1 cents per kWh for the three-months ended March
31, 2001.

     Edison entered into an agreement  ("Agreement")  with the Coso Partnerships
on June 19, 2001 that addressed  renewable energy pricing and issues  concerning
California's  energy crisis.  The  Agreement,  which was amended on November 30,
2001, established May 1, 2002, as the date when the Coso Partnerships will begin
receiving a fixed avoided cost of energy rate of 5.37 cents per kWh for five (5)
years.  Subsequent  to the five year  period,  Edison  will be  required to make
energy  payments to the Coso  Partnerships  based on its avoided  cost of energy
until each partnership power purchase agreement  expires.  Estimates of Edison's
future avoided cost of energy may vary  significantly and no one can predict the
likely level of future avoided cost of energy prices.

     In 1994, the Coso Partnerships  implemented a steam-sharing  program, under
the Coso Geothermal Exchange Agreement. The purpose of the steam-sharing program
is to enhance the management of the Coso geothermal resource and to optimize the
resource's overall benefits to the Coso Partnerships by transferring steam among
the  Coso  Partnerships.  Under  the  steam  sharing  program,  the  partnership
receiving the steam transfer  splits revenue earned from  electricity  generated
with the partnership that transferred the steam.

     The Coso  Partnerships  are required to make  royalty  payments to the U.S.
Navy and the Bureau of Land  Management.  The Navy I Partnership  pays a royalty
for Unit I through  reimbursement  of  electricity  supplied to the U.S. Navy by
Edison from  electricity  generated at the Navy I plant.  The  reimbursement  is
based on a pricing  formula  that is included in the U.S.  Navy  Contract.  This
formula is largely  based upon the tariff  rates  charged by Edison,  which have
recently been increased by the California  Public Utilities  Commission  (CPUC).
Discussions  with the U.S.  Navy are  continuing  to  re-adjust  the  formula to
reflect  recent  activity  in the local  energy  market.  In  November  2001,  a
modification to the calculation of the reimbursement pricing formula was made to
the U.S.  Navy  Contract  resulting in a reduction of accrued  royalties of $6.5
million. For Units 2 and 3, the Navy I Partnership's royalty expense paid to the
U.S. Navy is a fixed percentage of electricity  sales at 15% of revenue received
by the  Navy I  Partnership  through  2003 and will  increase  to 20% from  2004
through  2009. In addition,  the Navy I Partnership  is required to pay the U.S.
Navy $25.0  million in  December  2009,  the date their  contract  expires.  The
payment is secured by funds placed on deposit monthly,  which funds plus accrued
interest will aggregate $25.0 million.  Currently,  the monthly amount deposited
is approximately  $60,000.  The BLM Partnership pays a 10% royalty to the Bureau
of Land  Management  based  on the net  value  of  steam  produced.  The Navy II
Partnership  pays a royalty  to the U.S.  Navy  based on a fixed  percentage  of
electricity  sales to Edison.  The  royalty  rate was 10% of  electricity  sales
through  1999,  and  increased to 18% for 2000 through 2004 and will increase to
20% from 2005 through the end of the contract term. The Coso  Partnerships  also
pay other royalties, at various rates which in the aggregate are not material.

                                       21

     Funding Corp is a special purpose corporation and a wholly owned subsidiary
of the Coso  Partnerships.  It was formed for the  purpose of issuing the senior
secured notes on behalf of the Coso  Partnerships  who have jointly,  severally,
and unconditionally guaranteed repayment of the senior secured notes.

     On May 28,  1999,  Funding  Corp.  issued  $110.0  million of 6.80%  senior
secured  notes,  which were paid off on December 15, 2001, and $303.0 million of
9.05% senior  secured  notes,  which have  payments due at various dates through
December  15,  2009.  The  proceeds  from  the  notes  were  loaned  to the Coso
Partnerships  and are payable to Funding  Corp from  payments of  principal  and
interest on the notes. Funding Corp. does not conduct any other operations apart
from issuing the notes.

     Under the  depository  agreement  with the trustee for the notes,  the Coso
Partnerships  established  accounts with a depository and pledged those accounts
as  security  for the benefit of the holders of the senior  secured  notes.  All
amounts  deposited  with  the  depository  are,  at the  direction  of the  Coso
Partnerships,  invested by the depository in permitted investments. All revenues
or other proceeds  actually received by the Coso Partnerships are deposited in a
revenue  account and withdrawn  upon receipt by the  depository of a certificate
from the relevant Coso Partnerships  detailing the amounts to be paid from funds
in its respective revenue account.

     Periodic  increases in natural gas prices and imbalances between supply and
demand,  among other  factors,  have at times led to  significant  increases  in
wholesale  electricity  prices in California.  During those periods,  Edison had
fixed  tariffs with their retail  customers  that were  significantly  below the
wholesale   prices  it  paid  in   California.   This  resulted  in  significant
under-recoveries  by Edison of its  electricity  purchase  costs. On January 16,
2001 Edison  announced that it was  temporarily  suspending  payments for energy
provided,  including  the energy  provided by the Coso  Partnerships,  pending a
permanent  solution  to its  liquidity  crisis.  This  cash flow  shortfall  has
adversely  affected  Edison's  liquidity  and in turn  it did  not pay the  Coso
Partnerships  for energy delivered from November 2000 through March 26, 2001. As
of December 31, 2001,  the Coso  Partnerships  were unable to determine the time
frame during which any future payments would be received. Due to the uncertainty
surrounding Edison's ability to make payment on past due amounts, collection was
not  reasonably  assured  and the Navy I, BLM and Navy II  Partnerships  did not
recognize revenue from Edison for energy delivered during the period November 1,
2000 through  March 26, 2001.  The provision  for doubtful  accounts  previously
recorded by the Navy I, BLM and Navy II  Partnerships  of $25.8  million,  $26.0
million and $27.0 million, respectively,  for the three-months  ended March 31,
2001, has been  reclassified  as a reduction of revenue to conform with the 2002
presentation.

     Pursuant  to a CPUC  order,  Edison  resumed  making  payments  to the Coso
Partnerships  beginning with power generated on March 27, 2001. Edison also made
a payment equal to 10% of the unpaid  balance for power  generated from November
1, 2000 to March 26, 2001,  and  continued  to pay  interest on the  outstanding
amount at 7% per annum.  That payment was made pursuant to the Agreement between
Edison and the Coso  Partnerships  described  above.  On March 1,  2002,  Edison
reached certain  financing  milestones and paid the Coso Partnerships for energy
generated  between  November 1, 2000 and March 26, 2001 for which no revenue was
recognized during that period.  For the three-month period ended March 31, 2002,
the Navy I, BLM and Navy II Partnerships recognized revenue for energy delivered
from November 1, 2000 through March 26, 2001 of $37.3 million, $37.1 million and
$38.0 million, respectively.

                                       22


Capacity Utilization

     For purposes of consistency in financial  presentation,  the plant capacity
factor for each of the Coso  Partnerships is based on a nominal  capacity amount
of 80MW (240MW in the aggregate).  The Coso  Partnerships have a gross operating
capacity  that  allows  for the  production  of  electricity  in excess of their
nominal capacity  amounts.  Utilization of this operating margin is based upon a
number of factors and can be expected to vary  throughout  the year under normal
operating conditions.


     The following  data includes the operating  capacity  factor,  capacity and
electricity  production  (in kWh) for each  Coso  Partnership  on a  stand-alone
basis:


                                                      Three-Months Ended
                                                           March 31,

                                                  2002                2001
                                                  ----                ----
   Navy I Partnership (stand alone)
     Operating capacity factor                   106.6%              109.6%
     Capacity (MW) (average)                      85.30               87.70
     kWh produced (000s)                         184,240             189,422

   BLM Partnership (stand alone)
     Operating capacity factor                    92.7%              102.2%
     Capacity (MW) (average)                      74.15               81.72
     kWh produced (000s)                         160,161             176,524

   Navy II Partnership (stand alone)
     Operating capacity factor                   109.0%              106.5%
     Capacity (MW) (average)                      87.23               85.22
     kWh produced (000s)                         188,414             184,067

     Total energy  production for the BLM  Partnership was 160.2 million kWh for
the three-months  ended March 31, 2002, as compared to 176.5 million kWh for the
same period in 2001, a decrease of 9.2%.  The decrease in energy  production was
primarily  due to a decline  in low  pressure  steam  which is being  remediated
through well  maintenance  and capital  improvements  and a reduction in 2002 of
steam transfers from the Navy II Partnership.


Results of Operations for the three-months ended March 31, 2002 and 2001

     The following  discusses the results of operations of the Coso Partnerships
for the three-months ended March 31, 2002 and 2001 (dollar amounts in tables are
in thousands, except per kWh data):

                                       23

Revenue
<TABLE>
<CAPTION>

                                                    Three-Months                Three-Months
                                                       Ended                       Ended
                                                   March 31, 2002              March 31, 2001



                                                    $     Cents/kWh             $     Cents/kWh
                                                    -     ---------             -     ---------
<S>                                               <C>        <C>               <C>       <C>
Total Operating Revenues
  Navy I Partnership                              45,498    24.7               6,053     3.2
  BLM Partnership                                 43,480    27.1                 825     0.5
  Navy II Partnership                             44,422    23.6              (2,554)   (1.4)

Capacity & Capacity Bonus Revenues
  Navy I Partnership                               3,148     1.7                  76     0.0
  BLM Partnership                                  3,051     1.9                  69     0.0
  Navy II Partnership                              3,051     1.6                  69     0.0

Energy Revenues
  Navy I Partnership                              42,350    23.0               5,977     3.2
  BLM Partnership                                 40,429    25.2                 756     0.4
  Navy II Partnership                             41,371    22.0              (2,623)   (1.4)

</TABLE>

     Total  operating  revenues  for the Navy I,  BLM and Navy II  Partnerships,
which consist of capacity payments, capacity bonus payments and energy payments,
were $45.5  million,  $43.5  million and $44.4  million,  respectively,  for the
three-months ended March 31, 2002, as compared to $6.1 million,  $.8 million and
a loss of $2.6 million,  respectively, for the same period in 2001, increases of
$39.4  million,  $42.7  million and $47.0  million,  respectively.  Capacity and
capacity  bonus  revenues  for each of the Navy I, BLM and Navy II  Partnerships
were $3.1 million for the three-months ended March 31, 2002, as compared to $0.1
million for the same  period in 2001,  each  increased  by $3.0  million.  Total
energy revenues for the Navy I, BLM and Navy II Partnerships were $42.4 million,
$40.4 million and $41.4 million,  respectively, for the three-months ended March
31, 2002, as compared to $6.0 million,  $0.8 million and a loss of $2.6 million,
respectively,  for the same period in 2001,  increases  of $36.4  million  $39.6
million and $44.0 million,  respectively.  Each Coso  Partnership's  increase in
capacity and capacity bonus and energy revenues for the three-months ended March
31, 2002, as compared to the same period in 2001,  was due to Edison's  payment,
on March 1,  2002,  for  revenue  generated  but not  recognized  for the period
November 1, 2000 through  March 26, 2001  discussed  above.  The Navy I, BLM and
Navy II Partnerships had not recognized revenues of $22.0 million, $21.8 million
and $22.7  million,  respectively,  for the  three-month  period ended March 31,
2001.  Revenues  generated but not  recognized  for the period  November 1, 2000
through  March 1,  2002 for the  Navy I, BLM and Navy II  Partnerships  of $37.3
million, $37.1 million and $38.0 million, respectively, were paid and recognized
during the three-months ended March 31, 2002.

                                       24

Interest and Other Income

                                      Three-Months             Three-Months
                                         Ended                    Ended
                                     March 31, 2002           March 31, 2001


                                      $     Cents/kWh          $     Cents/kWh
                                      -     ---------          -     ---------
Navy I Partnership                   474       0.3            135       0.1
BLM Partnership                      642       0.4            620       0.4
Navy II Partnership                  482       0.3            358       0.2



     The Navy I  Partnership's  interest  and other  income was $474,000 for the
three-months  ended March 31, 2002,  as compared to $135,000 for the same period
in 2001, an increase of $339,000.  The Navy II Partnership's  interest and other
income was  $482,000  for the  three-months  ended March 31, 2002 as compared to
$358,000 for the same period in 2001, an increase of 34.6%.  These increases for
the  three-months  ended March 31, 2002, as compared to the same period in 2001,
were primarily due to interest on amounts in arrears owed by Edison in 2002.


Plant Operations


                                      Three-Months             Three-Months
                                         Ended                    Ended
                                     March 31, 2002           March 31, 2001


                                     $      Cents/kWh         $      Cents/kWh
                                     -      ---------         -      ---------
Navy I Partnership                 2,307       1.3          1,762       0.9
BLM Partnership                    2,605       1.6          2,360       1.3
Navy II Partnership                1,971       1.0          1,975       1.1


     The  Navy I  Partnership's  operating  expenses,  including  operating  and
general and  administrative  expenses,  were $2.3  million for the  three-months
ended March 31, 2002 as compared to $1.8 million for the same period in 2001, an
increase of 27.8%.  The increase for the  three-months  ended March 31, 2002, as
compared to the same period in 2001 was  primarily  due to increased  repair and
maintenance projects, which had been deferred during the same period in 2001 due
to the Edison's non-payment for energy delivered during the period from November
1, 2000 through March 26, 2001 discussed above.

     The BLM Partnership's  operating expenses,  including operating and general
and administrative  expenses, were $2.6 million for the three-months ended March
31, 2002,  as compared to $2.4 million for the same period in 2001,  an increase
of 8.3%. The increase for the three-months  ended March 31, 2002, as compared to
the same period in 2001 was primarily due to an increased repair and maintenance
projects,  which had been  deferred  during  the same  period in 2001 due to the
Edison's  non-payment  for energy  delivered  during the period from November 1,
2000 through March 26, 2001 discussed above.

                                       25



Royalty Expense

                                      Three-Months             Three-Months
                                         Ended                    Ended
                                     March 31, 2002           March 31, 2001


                                     $      Cents/kWh         $      Cents/kWh
                                     -      ---------         -      ---------
Navy I Partnership                 2,212       1.2          3,770       2.0
BLM Partnership                       11       0.0          2,868       1.6
Navy II Partnership                1,057       0.6          3,712       2.0


     The  Navy I  Partnership's  royalty  expenses  were  $2.2  million  for the
three-months  ended March 31,  2002,  as  compared to $3.8  million for the same
period in 2001, a decrease of 42.1%. The BLM Partnership's royalty expenses were
$11,000 for the  three-months  ended March 31, 2002, as compared to $2.9 million
for  the  same  period  in  2001,  a  decrease  of  $2.9  million.  The  Navy II
Partnership's  royalty  expenses  were $1.1 million for the  three-months  ended
March 31,  2002,  as  compared to $3.7  million  for the same period in 2001,  a
decrease of 70.3%.  These  decreases in royalty  expense for the Navy I, BLM and
Navy II Partnerships  for the  three-months  ended March 31, 2002 as compared to
the same period in 2001,  were due to a decrease  in the avoided  cost of energy
from 15.1 cents per kWh for the three-month  period ended March 31, 2001 to 3.25
cents per kWh for the  three-month  period ended March 31, 2002. The decrease in
royalty cost for the Navy I  Partnership  was  partially  offset by an increased
royalty for Unit 1 based on the royalty reimbursement formula.


Depreciation and Amortization

                                      Three-Months             Three-Months
                                         Ended                    Ended
                                     March 31, 2002           March 31, 2001

                                     $      Cents/kWh         $      Cents/kWh
                                     -      ---------         -      ---------
Navy I Partnership                 2,536       1.4          2,499       1.3
BLM Partnership                    4,059       2.5          3,946       2.2
Navy II Partnership                3,829       2.0          3,753       2.0


Depreciation and Amortization expenses for the three-months ended March 31, 2002
as  compared  to the same  period  in  2001,  remained  consistent  over the two
periods.


Interest Expense

                                      Three-Months             Three-Months
                                         Ended                    Ended
                                     March 31, 2002           March 31, 2001



                                     $      Cents/kWh         $      Cents/kWh
                                     -      ---------         -      ---------
Navy I Partnership                 2,775       1.5          2,984       1.6
BLM Partnership                    2,180       1.4          2,257       1.3
Navy II Partnership                1,908       1.0          2,075       1.1

                                       26

     The  Navy I  Partnership's  interest  expense  was  $2.8  million  for  the
three-months  ended March 31,  2002,  as  compared to $3.0  million for the same
period in 2001, a decrease of 6.7%. The Navy II  Partnership's  interest expense
was $1.9 million for the three-months  ended March 31, 2002, as compared to $2.1
million for the same  period in 2001,  a decrease of 9.5%.  These  decreases  in
interest expense for the  three-months  ended March 31, 2002, as compared to the
same  period  in 2001  were due to  reductions  in the  principal  amount of the
project loan from Funding Corp.


Liquidity and Capital Resources

     Each of the  Navy I  Partnership,  the  BLM  Partnership  and  the  Navy II
Partnership derive  substantially all of their cash flow from Edison under their
power purchase  agreements and from interest  income earned on funds on deposit.
As of December 2001, the 6.8% notes were repaid,  subsequently  leaving the Coso
Partnerships  with increased annual cash flow. The Coso  Partnerships  have used
their cash  primarily  for capital  expenditures  for power plant  improvements,
resource and  operating  costs,  distributions  to partners  and  payments  with
respect to the project debt.

     The Coso  Partnerships  ability to meet their  obligations as they come due
will depend upon the ability of Edison to meet its  obligations  under the terms
of the standard offer No. 4 power  purchase  agreements.  Edison's  shortfall in
collections,  coupled with its near term capital  requirements,  materially  and
adversely  affected its liquidity.  In resolution of that issue,  Edison settled
with the CPUC on  October  2, 2001,  enabling  it to recover in retail  electric
rates its historical  shortfall in electric  purchase costs.  Immediately  after
this  settlement,  Edison  and each of the  Coso  Partnerships  entered  into an
amendment of their respective Agreement (referenced above) pertaining to partial
payment and interest  payments relating to Edison's past due obligations for the
period from November 2000 through March 26, 2001. The Agreement, as amended, was
approved by CPUC in January of 2002,  and  established  the fixed  energy  rates
discussed  above and set payment terms for the past due amounts owed to the Coso
Partnerships by Edison.  Edison's failure to pay its future obligations may have
a material adverse effect on the Coso Partnerships  ability to make debt service
payments to Funding Corp. as they come due under the Funding Corp. notes.

     On March 1, 2002, Edison reached certain financing  milestones and paid the
Coso  Partnerships  for  revenue  generated  but not  recognized  for the period
November 1, 2000 through  March 26, 2001.  In the first quarter of 2002 the Navy
I, BLM and Navy II Partnerships  recognized  revenue for energy delivered during
that period of $37.3 million. $37.1 million and $38.0 million, respectively.


     The following  table sets forth a summary of each Coso  Partnership's  cash
flows for the three-months ended March 31, 2002 and March 31, 2001.

<TABLE>
<CAPTION>

                                                                    Three-Months            Three-Months
                                                                       Ended                   Ended
                                                                   March 31, 2002          March 31, 2001
<S>                                                                  <C>                    <C>
Navy I Partnership (stand alone)
  Net cash provided by (used in) operating activities                $   47,122             $   (2,470)
  Net cash provided by (used in) investing activities                    (2,484)                   (18)
  Net cash provided by (used in) financing activities                   (29,910)                   ---
                                                                        --------                -------
      Net change in cash and cash equivalents                        $   14,728             $   (2,488)
                                                                        ========                =======

                                       27

BLM Partnership (stand alone)
  Net cash provided by operating activities                          $   34,552             $      947
  Net cash provided by (used in) investing activities                    (1,569)                (2,045)
  Net cash provided by (used in) financing activities                   (22,750)                   ---
                                                                        --------                -------
      Net change in cash and cash equivalents                        $   10,233             $   (1,098)
                                                                        ========                =======

Navy II Partnership (stand alone)
  Net cash provided by (used in) operating activities                $   26,844             $     (911)
  Net cash provided by (used in) investing activities                      (107)                   366
  Net cash provided by (used in) financing activities                   (13,550)                   ---
                                                                        --------                -------
      Net change in cash and cash equivalents                        $   13,187              $     545
                                                                        ========                =======

</TABLE>

     The Navy I Partnership's cash flows from operating  activities increased by
$49.6 million for the three-months ended March 31, 2002, as compared to the same
period  in 2001,  primarily  due to the  increase  in net  income  from the cash
received for Edison's  payment for revenue  generated but not recognized for the
period November 1, 2000 through March 26, 2001.

     Cash used in investing  activities at the Navy I  Partnership  increased by
$2.5 million for the three-months  ended March 31, 2002, as compared to the same
period in 2001,  primarily  due to an increase in restricted  cash  requirements
associated with the project loan from Funding Corp.

     The Navy I  Partnership's  cash used in financing  activities  increased by
$29.9 million for the three-months ended March 31, 2002, as compared to the same
period in 2001, due to increased partner  distributions  paid during that period
in 2002.

     The BLM  Partnership's  cash flows from operating  activities  increased by
$33.6 million for the three-months ended March 31, 2002, as compared to the same
period  in 2001,  primarily  due to the  increase  in net  income  from the cash
received for Edison's  payment for revenue  generated but not recognized for the
period November 1, 2000 through March 26, 2001.

     Cash used in investing activities at the BLM Partnership  decreased by $0.5
million  for the  three-months  ended  March 31,  2002,  as compared to the same
period in 2001,  primarily due to a decrease in capital  expenditures  partially
offset by an  increase  in  restricted  cash  requirements  associated  with the
project loan from Funding Corp.

     The BLM Partnership's cash used in financing  activities increased by $22.8
million  for the  three-months  ended  March 31,  2002,  as compared to the same
period in 2001, due to increased partner  distributions  paid during that period
in 2002.

     The Navy II Partnership's cash flows from operating activities increased by
$27.8 million for the three-months ended March 31, 2002, as compared to the same
period  in 2001,  primarily  due to the  increase  in net  income  from the cash
received for Edison's  payment for revenue  generated but not recognized for the
period November 1, 2000 through March 26, 2001.

     Cash from investing activities at the Navy II Partnership decreased by $0.5
million  for the  three-months  ended  March 31,  2002,  as compared to the same
period in 2001,  primarily  due to an increase in restricted  cash  requirements
associated with the project loan from Funding Corp.

     The Navy II Partnership's  cash used in financing  activities  increased by
$13.6 million for the three-months ended March 31, 2002, as compared to the same
period in 2001, due to increased partner  distributions  paid during that period
in 2002.

                                       28

PART II.  OTHER INFORMATION


ITEM 1.   Legal Proceedings

General

     The Coso  Partnerships are currently parties to various items of litigation
relating to day-to-day operations, none of which, if determined adversely, would
be material to the  financial  condition  and results of  operations of the Coso
Partnerships, either individually or taken as a whole.

ITEM 2.   Change in Securities and Use of Proceeds

                  None.

ITEM 3.   Defaults Upon Senior Securities

                  None.

ITEM 4.   Submission of Matters to a Vote of Security Holders

                  None.

                                       29

<PAGE>



ITEM 5.   Other Information

 Supplemental Condensed Combined Financial Information for the Coso Partnerships

     The following  information  presents unaudited condensed combined financial
statements of the Coso  Partnerships.  These  financial  statements  represent a
combination of the financial  statements of Caithness  Coso Funding Corp.,  Coso
Finance  Partners,  Coso Energy  Developers  and Coso Power  Developers  for the
periods indicated.  This supplemental  financial  information is not required by
accounting principles generally accepted in the United States of America and has
been provided to facilitate a more comprehensive  understanding of the financial
position,  operating results and cash flows of the Coso Partnerships as a whole,
which  jointly and severally  guarantee the repayment of Caithness  Coso Funding
Corp's  senior notes.  The unaudited  condensed  combined  financial  statements
should be read in conjunction with each individual Coso Partnership's  financial
statements and their accompanying notes.

     The  financial  information  herein  presented  reflects  all  adjustments,
consisting only of normal  recurring  adjustments,  which are, in the opinion of
management,  necessary for a fair  statement of the results for interim  periods
presented. The results for the interim periods are not necessarily indicative of
results to be expected for the full year.

                                       30

<PAGE>


                                COSO PARTNERSHIPS
                   UNAUDITED CONDENSED COMBINED BALANCE SHEETS
                             (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                       March 31,        December 31,
                                                                                         2002               2001
<S>                                                                                  <C>                <C>
Assets:
   Cash and cash equivalents.................................................        $  38,412          $    264
   Restricted cash and investments...........................................           37,873             34,210
   Accounts receivable, net..................................................           13,538              9,603
   Prepaid expenses and other assets.........................................            1,637              2,159
   Amounts due from related parties..........................................            6,118              6,488
   Property, plant and equipment, net........................................          404,846            413,519
   Power purchase agreement, net.............................................           51,097             52,350
   Investments...............................................................           12,684             12,843
   Deferred financing costs, net.............................................            6,103              6,300
                                                                                       -------             ------

                                                                                     $ 572,308          $ 537,736
                                                                                       =======            =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities..................................        $  35,814          $  42,362
   Amounts due to related parties............................................           24,942             24,967
   Project loans.............................................................          303,000            303,000
                                                                                       -------            -------
                                                                                       363,756            370,329
Partners' capital............................................................          208,552            167,407
                                                                                       -------            -------

                                                                                     $ 572,308          $ 537,736
                                                                                       =======            =======


 See accompanying notes to the unaudited condensed combined financial statements

</TABLE>

                                       31

<PAGE>

                                COSO PARTNERSHIPS
              UNAUDITED CONDENSED COMBINED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                     Three-Months         Three-Months
                                                                                        Ended                Ended
                                                                                       March 31,            March 31,
                                                                                         2002                 2001

<S>                                                                                  <C>                <C>
Revenue:
   Energy revenues...........................................................        $ 124,150          $   4,110
   Capacity revenues.........................................................            9,250                214
   Interest and other income.................................................            1,598              1,113
                                                                                       -------             ------
          Total revenue......................................................          134,998              5,437

Operating expenses:
   Plant operating expenses..................................................            6,883              6,907
   Royalty expense...........................................................            3,280             10,351
   Depreciation and amortization.............................................           10,424             10,198
                                                                                       -------             ------
          Total operating expenses...........................................           20,587             26,646

          Operating income (loss)............................................          114,411            (21,209)

  Other expenses:
   Interest expense..........................................................            6,863              7,316
   Amortization of deferred financing costs..................................              197                401
                                                                                       -------             ------
          Total other expenses...............................................            7,060              7,717


           Net income (loss).................................................        $ 107,351          $ (28,926)
                                                                                       =======             =======


</TABLE>


See accompanying notes to the unaudited condensed combined financial statements

                                       32

<PAGE>




                                COSO PARTNERSHIPS
              UNAUDITED CONDENSED COMBINED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                                     Three-Months         Three-Months
                                                                                        Ended                Ended
                                                                                       March 31,            March 31,
                                                                                         2002                 2001


<S>                                                                                  <C>                <C>
Net cash provided by (used in) operating activities..........................        $ 108,518          $  (2,434)
Net cash provided by (used in) investing activities..........................           (4,160)            (1,697)
Net cash provided by (used in) financing activities..........................          (66,210)              ---
                                                                                       --------            -------

Net change in cash and cash equivalents......................................        $  38,148          $  (4,131)
                                                                                       ========            =======




 See accompanying notes to the unaudited condensed combined financial statements.


</TABLE>

                                       33

<PAGE>




                                COSO PARTNERSHIPS
                    NOTES TO THE UNAUDITED CONDENSED COMBINED
                              FINANCIAL STATEMENTS


(1)      Basis of Presentation

The accompanying  unaudited condensed combined financial statements were derived
from the stand alone unaudited condensed financial  statements of Caithness Coso
Funding  Corp.,  Coso Finance  Partners,  Coso Energy  Developers and Coso Power
Developers ("the Coso Partnerships"). All intercompany accounts and transactions
were  eliminated.  This financial  information has been provided to facilitate a
more comprehensive  understanding of the financial  position,  operating results
and cash flows of the Coso  Partnerships  as a whole.  The  unaudited  condensed
combined financial statements should be read in conjunction with each individual
Partnership's unaudited condensed financial statements.

(2)      Accounts Receivable and Revenue Recognition

Due to the uncertainty  surrounding Edison's ability to make payment on past due
amounts, collection was not reasonably assured and the Coso Partnerships had not
recognized  revenue from Edison for energy  delivered during the period November
1, 2000 through March 26, 2001. The provision for doubtful  accounts  previously
recorded by the Coso  Partnerships of $78.8 million for the  three-months  ended
March 31, 2001, has been  reclassified as a reduction of revenue to conform with
the 2002 presentation.

On March 1, 2002, Edison reached certain financing  milestones and paid the Coso
Partnerships for revenue generated but not recognized for the period November 1,
2000 through March 26, 2001.  For the  three-month  period ended March 31, 2002,
the Coso Partnerships  recognized  revenue for energy delivered from November 1,
2000 through March 26, 2001 of $112.4 million.

(3)      Reclassifications

Certain  other  reclassifications  have  been  made to the  2001  statements  of
operations to conform to the 2002 presentation.





                                       34

<PAGE>



ITEM 6.  Exhibits and Reports on Form 8-K

(a)      Exhibits

         27.1 Financial Data Schedule--Form SX--Caithness Coso Funding Corp.
         27.2 Financial Data Schedule--Form SX--Coso Finance Partners
         27.3 Financial Data Schedule--Form SX--Coso Energy Developers
         27.4 Financial Data Schedule--Form SX--Coso Power Developers


(b)      Reports on Form 8-K

         None






                                       35

<PAGE>

                                  EXHIBIT 27.1

                                    Form S-X

                       Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      CAITHNESS COSO FUNDING CORP.
                                            ----------------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?       This schedule  contains summary financial
                      Yes X  No        information extracted from *_____________
                   ---   ---           and is equalified in its entirety by
                                       reference to such financial statements.
                                       *Identify the financial statement(s) to
                                       be referenced in the legend:
RESTATED
Are your financials being "restated"          (NO VALUE REQUIRED)
from a previously file period?
                      Yes  X No
                   ---    ---
CIK                                       Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT CIK:

NAME                                      Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT NAME:

MULTIPLIER
Do the financials require a multiplier        X 1,000       1,000,000,000
other than 1 (one)?                          ---         ----
                    X Yes    No                 1,000,000    1,000,000,000,000
                   ---    ---                ---         ----

CURRENCY                                       CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                      Yes  X No
                   ---    ---
PERIOD TYPE                                     - MOS       X  3 - MOS
                                         -- ----           -- ---
                                                X YEAR             YEAR
                                               ---              ---
                                            (for annual report filings)
                                                  OTHER            OTHER
                                              ----             ----
FISCAL YEAR END
(example: DEC-31-1997)                      Dec-31-2001           DEC-31-2002
                                            -----------           -----------
                                            mmm-dd-yyyy           mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2001           JAN-01-2002
                                            -----------           -----------
                                            mmm-dd-yyyy           mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2001           MAR-31-2002
                                            -----------           -----------
                                            mmm-dd-yyyy           mmm-dd-yyyy

EXCHANGE RATE                               EXCHANGE RATE:       EXCHANGE RATE:

Is the exchange rate other than 1
(one)? Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes  X No
                   ---    ---
<PAGE>

<TABLE>
<CAPTION>
                                         PERIOD TYPE Year            PERIOD TYPE 3 MOS
                                                     ----                        -----                          ---
<S>                                                     <C>                         <C>
CASH                                                         0                           0
SECURITIES                                                   0                           0
RECEIVABLES                                            304,225                     311,079
ALLOWANCES                                                   0                           0
INVENTORY                                                    0                           0
CURRENT ASSETDS                                          1,225                       8,079
PP&E                                                         0                           0
DEPRECIATION                                                 0                           0
TOTAL ASSETS                                           304,225                     311,079
CURRENT LIABILITIES                                      1,225                       8,079
BONDS                                                  303,000                     303,000
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             304,225                     311,079
SALES                                                        0                           0
TOTAL REVENUES                                          28,820                       6,854
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                               0                           0
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                       28,820                       6,854
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                                   0                           0
EPS BASIC                                                    0                           0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                  0                           0
(Value may contain up to 3 decimal places)

                    Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>


<PAGE>
                                  EXHIBIT 27.2

                                    Form S-X

                       Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      COSO FINANCE PARTNERS
                                            ---------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?       This schedule  contains summary financial
                      Yes X  No        information extracted from *_____________
                   ---   ---           and is equalified in its entirety by
                                       reference to such financial statements.
                                       *Identify the financial statement(s) to
                                       be referenced in the legend:
RESTATED
Are your financials being "restated"          (NO VALUE REQUIRED)
from a previously file period?
                      Yes  X No
                   ---    ---
CIK                                       Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT CIK:

NAME                                      Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT NAME:
MULTIPLIER
Do the financials require a multiplier        X 1,000        1,000,000,000
other than 1 (one)?                          ---         ----
                    X Yes    No                 1,000,000    1,000,000,000,000
                   ---    ---                ---         ----

CURRENCY                                       CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                      Yes  X No
                   ---    ---
PERIOD TYPE                                     - MOS    X    3 - MOS
                                         -- ----         -- ----
                                                X YEAR            YEAR
                                               ---             ---
                                            (for annual report filings)
                                                  OTHER           OTHER
                                              ----            ----
FISCAL YEAR END
(example: DEC-31-1997)                      Dec-31-2001          DEC-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2001          JAN-01-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2001          MAR-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy

EXCHANGE RATE                               EXCHANGE RATE:       EXCHANGE RATE:

Is the exchange rate other than 1
(one)? Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes  X No
                   ---    ---
<PAGE>

<TABLE>
<CAPTION>
                                         PERIOD TYPE Year            PERIOD TYPE 3 MOS
                                                     ----                        -----
<S>                                                     <C>                         <C>
CASH                                                       264                      14,992
SECURITIES                                              21,325                      23,766
RECEIVABLES                                             12,816                       6,862
ALLOWANCES                                                   0                           0
INVENTORY                                                    0                           0
CURRENT ASSETS                                          13,730                      22,534
PP&E                                                   229,084                     229,112
DEPRECIATION                                            88,647                      90,881
TOTAL ASSETS                                           193,114                     201,763
CURRENT LIABILITIES                                     18,139                      20,635
BONDS                                                  122,550                     122,550
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             193,114                     201,763
SALES                                                   75,419                      45,498
TOTAL REVENUES                                          78,347                      45,972
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          51,201                       7,055
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                       12,437                       2,854
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                              14,709                      36,063
EPS BASIC                                                    0                           0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                  0                           0
(Value may contain up to 3 decimal places)

                    Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>


<PAGE>

                                  EXHIBIT 27.3

                                    Form S-X

                       Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      COSO ENERGY DEVELOPERS
                                            ----------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?       This schedule  contains summary financial
                      Yes X  No        information extracted from *_____________
                   ---   ---           and is equalified in its entirety by
                                       reference to such financial statements.
                                       *Identify the financial statement(s) to
                                       be referenced in the legend:
RESTATED
Are your financials being "restated"          (NO VALUE REQUIRED)
from a previously file period?
                      Yes  X No
                   ---    ---
CIK                                       Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT CIK:

NAME                                      Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT NAME:
MULTIPLIER
Do the financials require a multiplier        X 1,000        1,000,000,000
other than 1 (one)?                          ---         ----
                    X Yes    No                 1,000,000    1,000,000,000,000
                   ---    ---                ---         ----

CURRENCY                                       CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                      Yes  X No
                   ---    ---
PERIOD TYPE                                     - MOS     X   3  - MOS
                                         -- ----         -- ----
                                                X YEAR            YEAR
                                               ---             ---
                                            (for annual report filings)
                                                  OTHER           OTHER
                                              ----            ----
FISCAL YEAR END
(example: DEC-31-1997)                      Dec-31-2001          DEC-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2001          JAN-01-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2001          MAR-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy

EXCHANGE RATE                               EXCHANGE RATE:       EXCHANGE RATE:

Is the exchange rate other than 1
(one)? Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes  X No
                   ---    ---
<PAGE>

<TABLE>
<CAPTION>
                                         PERIOD TYPE Year            PERIOD TYPE 3 MOS
                                                     ----                        -----
<S>                                                     <C>                         <C>
CASH                                                         0                      10,233
SECURITIES                                               7,368                       8,551
RECEIVABLES                                              3,340                       4,541
ALLOWANCES                                                   0                           0
INVENTORY                                                    0                           0
CURRENT ASSETS                                           4,189                      15,300
PP&E                                                   247,203                     247,547
DEPRECIATION                                            98,786                     102,535
TOTAL ASSETS                                           183,978                     192,456
CURRENT LIABILITIES                                     34,966                      30,988
BONDS                                                   96,250                      96,250
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             183,978                     192,456
SALES                                                   65,830                      43,480
TOTAL REVENUES                                          69,596                      44,122
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          53,185                       6,675
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                        9,398                       2,244
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                               7,013                      35,203
EPS BASIC                                                    0                           0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                  0                           0
(Value may contain up to 3 decimal places)

                    Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>



<PAGE>

                                  EXHIBIT 27.4

                                    Form S-X

                       Commercial and Industrial Companies

Financial Data Schedule Worksheet for:      COSO POWER DEVELOPERS
                                            ---------------------
Review the following  list of tags for Article 5 and fill in the correct data in
the  column(s)  provided.  Generally,  only one  column of  information  will be
required,  however,  two columns are provided if required in the Financial  Data
Schedule.

Unless otherwise  noted, all tags are required.  A response is required for each
item within the schedule. Use the value "0" (zero) if information is immaterial,
inapplicable or unknown. Decimals may not be used to state financial data except
as indicated.  Values not provided will be entered as "0" (zero).  Missing dates
will be entered as "TO COME".  Please be sure to verify all  information  in the
EDGARized exhibit.

To  include  a  footnote,  place a number in  parentheses  next to the value and
provide  the text of each  corresponding  footnote  at the end of the  worksheet
form.

Do you wish to include a LEGEND?       This schedule  contains summary financial
                      Yes X  No        information extracted from *_____________
                   ---   ---           and is equalified in its entirety by
                                       reference to such financial statements.
                                       *Identify the financial statement(s) to
                                       be referenced in the legend:
RESTATED
Are your financials being "restated"          (NO VALUE REQUIRED)
from a previously file period?
                      Yes  X No
                   ---    ---
CIK                                       Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT CIK:

NAME                                      Use this section only for coregistrant
Does this data apply to a coregistrant    filings.
                      Yes  X No
                   ---    ---             COREGISTRANT NAME:
MULTIPLIER
Do the financials require a multiplier        X 1,000        1,000,000,000
other than 1 (one)?                          ---         ----
                    X Yes    No                 1,000,000    1,000,000,000,000
                   ---    ---                ---         ----

CURRENCY                                       CURRENCY OF FINANCIAL DATA:
Is the currency used other than US
Dollars? Use in conjunction with
EXCHANGE RATE tag.
                      Yes  X No
                   ---    ---
PERIOD TYPE                                     - MOS     X   3  - MOS
                                         -- ----         -- ----
                                                  YEAR            YEAR
                                               ---             ---
                                            (for annual report filings)
                                                  OTHER           OTHER
                                              ----            ----
FISCAL YEAR END
(example: DEC-31-1997)                      Dec-31-2001          DEC-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2001          JAN-01-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2001          MAR-31-2002
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy

EXCHANGE RATE                               EXCHANGE RATE:       EXCHANGE RATE:

Is the exchange rate other than 1
(one)? Value may contain up to 5
decimal places) Use in conjunction
with CURRENCY tag.
                      Yes  X No
                   ---    ---

<PAGE>

<TABLE>
<CAPTION>
                                         PERIOD TYPE Year            PERIOD TYPE 3 MOS
                                                     ----                        -----
<S>                                                     <C>                         <C>
CASH                                                         0                      13,187
SECURITIES                                               5,517                       5,556
RECEIVABLES                                              9,349                      10,207
ALLOWANCES                                                   0                           0
INVENTORY                                                    0                           0
CURRENT ASSETS                                          10,009                      23,825
PP&E                                                   209,652                     209,664
DEPRECIATION                                            84,987                      88,061
TOTAL ASSETS                                           170,058                     180,043
CURRENT LIABILITIES                                     23,638                      11,087
BONDS                                                   84,200                      84,200
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             170,058                     180,043
SALES                                                   59,122                      44,422
TOTAL REVENUES                                          62,005                      44,904
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          57,141                       6,857
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                        9,247                       1,962
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                             (4,383)                      36,085
EPS BASIC                                                    0                           0
(Value may contain up to 3 decimal places)
EPS DILUTED                                                  0                           0
(Value may contain up to 3 decimal places)

                    Footnote Text: (Note: Each footnote cannot exceed 256 characters, including spaces)
</TABLE>




<PAGE>




                                   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 thereunto duly authorized.


Date:  May 7, 2002                     CAITHNESS COSO FUNDING CORP.,
                                       a Delaware corporation

                                        By: /S/ CHRISTOPHER T. MCCALLION
                                            ----------------------------
                                            Christopher T. McCallion
                                            Executive Vice President &
                                            Chief Financial Officer
                                            (Principal Financial and
                                            Accounting Officer)


                                       COSO FINANCE PARTNERS
                                       a California General Partnership

                                        By: New CLOC Company, LLC,
                                            its Managing General Partner

                                        By: /S/ CHRISTOPHER T. MCCALLION
                                            ----------------------------
                                            Christopher T. McCallion
                                            Executive Vice President &
                                            Chief Financial Officer
                                            (Principal Financial and
                                            Accounting Officer)


                                       COSO ENERGY DEVELOPERS
                                       a California General Partnership

                                        By: New CHIP Company, LLC,
                                            its Managing General Partner

                                        By: /S/ CHRISTOPHER T. MCCALLION
                                            ----------------------------
                                            Christopher T. McCallion
                                            Executive Vice President &
                                            Chief Financial Officer
                                            (Principal Financial and
                                            Accounting Officer)


                                       COSO POWER DEVELOPERS
                                       a California General Partnership

                                        By: New CTC Company, LLC,
                                            its Managing General Partner

                                        By: /S/ CHRISTOPHER T. MCCALLION
                                            ----------------------------
                                            Christopher T. McCallion
                                            Executive Vice President &
                                            Chief Financial Officer
                                            (Principal Financial and
                                            Accounting Officer)