FORM 10-Q -- QUARTERLY REPORT UNDER SECTION 13
                 OR 15(d) OF THE SECURITES EXCHANGE ACT OF 1934

(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, 2001
                                                   --------------

                                       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)



1114 Avenue of the Americas, 41st Floor, New York, New York      10036-7790
-----------------------------------------------------------      ----------
       (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 10, 2001
          -------------------------------------------------------------



<PAGE>




                          CAITHNESS COSO FUNDING CORP.
                                    Form 10-Q
                      For the Quarter Ended March 31, 2001


PART I.  FINANCIAL INFORMATION                                      Page No.

ITEM 1.  Financial Statements

  Caithness Coso Funding Corp
  Unaudited condensed balance sheet at March 31, 2001 and
    December 31, 2000                                                     4
  Unaudited condensed statement of operations for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000                                                        5
  Unaudited condensed statement of cash flows for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000                                                        6
  Notes to the unaudited condensed financial statements                   7

  Coso Finance Partners
  Unaudited condensed balance sheets at March 31, 2001 and
    December 31, 2000                                                     8
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2001 and the three-months ended
    March 31,2000                                                         9
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000.                                                      10
  Notes to the unaudited condensed financial statements                  11

  Coso Energy Developers
  Unaudited condensed balance sheets at March 31, 2001 and
    December 31, 2000                                                    12
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000                                                       13
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000.                                                      14
  Notes to the unaudited condensed financial statements                  15

  Coso Power Developers
  Unaudited condensed balance sheets at March 31, 2001 and
    December 31, 2000                                                    16
  Unaudited condensed statements of operations for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000                                                       17
  Unaudited condensed statements of cash flows for the three-
    months ended March 31, 2001 and the three-months ended
    March 31, 2000.                                                      18
  Notes to the unaudited condensed financial statements                  19

                                       2

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


PART II.  OTHER INFORMATION

ITEM 1.   Legal Proceedings                                              28
ITEM 2.   Change in Securities and Use of Proceeds                       28
ITEM 3.   Defaults upon Senior Securities                                28
ITEM 4.   Submission of Matters to a Vote of Security Holders            28
ITEM 5.   Other Information                                              28
  Supplemental condensed combined financial information for the
    Coso Partnerships
  Unaudited condensed combined balance sheets at March 31, 2001
    and December 31, 2000                                                30
  Unaudited condensed combined statements of operations for the
    three-months ended March 31, 2001, and the three-months ended
    March 31, 2000                                                       31
  Unaudited condensed combined statements of cash flows for the
    three-months ended March 31, 2001, and the three-months ended
    March 31, 2000                                                       32
  Notes to the unaudited condensed combined financial statements         33

ITEM 6.   Exhibits and Reports on Form 8-K                               34



                                       3


<PAGE>


                          CAITHNESS COSO FUNDING CORP.
                        UNAUDITED CONDENSED BALANCE SHEET
                             (Dollars in thousands)

<TABLE>
<CAPTION>

                                                                   March 31,        December 31,
                                                                     2001              2000
                                                                                      (Note)

  <S>                                                           <C>             <C>
Assets:
   Accrued interest receivable.......................           $    8,601       $    1,286
   Project loan to Coso Finance Partners.............              134,984          134,984
   Project loan to Coso Energy Developers............              100,907          100,907
   Project loan to Coso Power Developers.............               94,176           94,176
                                                                   -------          -------

                                                                $  338,668       $  331,353
                                                                   =======          =======


Liabilities and Stockholders' Equity:
   Senior secured notes:
      Accrued interest payable.......................           $    8,601       $    1,286
      6.80% notes due 2001...........................               27,067           27,067
      9.05% notes due 2009...........................              303,000          303,000
                                                                   -------          -------
                                                                   338,668          331,353


Stockholders' equity.................................                 ---              ---
                                                                   -------          -------

                                                                $  338,668       $  331,353
                                                                   =======          =======

</TABLE>



Note:     The condensed balance sheet at December 31, 2000 has been derived
          from  the  audited  financial  statements  at that  date  but does not
          include all of the  information  and  footnotes  required by generally
          accepted accounting principles for complete financial statements.





          See accompanying notes to the unaudited condensed financial statements






                                       4



<PAGE>

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



                                    Three-Months          Three-Months
                                       Ended                 Ended
                                      March 31,             March 31,
                                        2001                  2000


Interest income..........            $  8,601              $  9,221
Interest expense.........              (8,601)               (9,221)
                                       -------               -------

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




     See accompanying notes to the unaudited condensed financial statements






                                       5



<PAGE>

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

<TABLE>
<CAPTION>


                                                  Three-Months          Three-Months
                                                     Ended                 Ended
                                                    March 31,             March 31,
                                                      2001                  2000


<S>                                               <C>                    <C>

Cash flows from investing activities......         $   (8,601)           $   52,665
Cash flows from financing activities......              8,601               (52,665)
                                                       -------              --------

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 generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  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, 2000.

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.

(3)      New Accounting Pronouncements

In  June  1998,  the  Financial  Accounting  Standards  Board  issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative' s fair value be recognized  currently in
earnings unless specific hedge  accounting  criteria are met.  Funding Corp. has
adopted FAS 133, and assessed that it has no material  effect on it's  financial
statements.






                                       7


<PAGE>

                              COSO FINANCE PARTNERS
                       UNAUDITED CONDENSED BALANCE SHEETS
                             (Dollars in thousands)
<TABLE>
<CAPTION>


                                                                                     March 31,       December 31,
                                                                                       2001             2000
                                                                                                       (Note)


<S>                                                                                 <C>                <C>

Assets:
   Cash and cash equivalents..................................................       $   1,018         $   3,506
   Restricted cash and investments............................................          22,461            22,996
   Accounts receivable, net...................................................           1,491               521
   Prepaid expenses & other assets............................................             432               809
   Amounts due from related parties...........................................           7,792             1,960
   Property, plant & equipment, net...........................................         147,416           149,076
   Power purchase agreement, net..............................................          11,953            12,240
   Investment in China Lake Plant Services, Inc...............................           4,062             4,072
   Deferred financing costs, net..............................................           3,100             3,229
                                                                                       -------           -------

                                                                                     $ 199,725         $ 198,409
                                                                                       =======           =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities...................................       $  18,650         $  15,857
   Amounts due to related parties.............................................           4,177               697
   Project loans..............................................................         134,984           134,984
                                                                                       -------           -------
                                                                                       157,811           151,538
Partners' capital.............................................................          41,914            46,871
                                                                                       -------           -------

                                                                                     $ 199,725         $ 198,409
                                                                                       =======           =======

</TABLE>





 Note:    The condensed balance sheet at December 31, 2000 has been derived
          from  the  audited  financial  statements  at that  date  but does not
          include all of the  information  and  footnotes  required by generally
          accepted accounting principles 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,
                                                                                         2001                2000

<S>                                                                                  <C>                 <C>
Revenue:
   Energy revenues............................................................       $  30,615           $   7,725
   Capacity...................................................................           1,255               1,255
   Interest and other income                                                               135                 323
                                                                                        ------               -----
        Total revenue.........................................................          32,005               9,303

Operating expenses:
   Plant operating expenses...................................................           1,762               2,072
   Royalty expense............................................................           3,770               1,189
   Provision for doubtful accounts............................................          25,817                 --
   Depreciation and amortization..............................................           2,499               2,353
                                                                                        ------               -----
        Total operating expenses..............................................          33,848               5,614

        Operating income (loss)...............................................          (1,843)              3,689

Other expenses:
   Interest expense...........................................................           2,984               3,173
   Amortization on deferred financing.........................................             130                 130
                                                                                        ------               -----
        Total other expenses..................................................           3,114               3,303


        Net income (loss).....................................................       $  (4,957)          $     386
                                                                                        ======               =====


</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,
                                                                                         2001                2000
<S>                                                                                  <C>                 <C>

Net cash provided by (used in) operating activities...........................       $  (2,470)          $   8,624
Net cash provided by (used in) investing activities...........................             (18)              2,445
Net cash provided by (used in) financing activities...........................            ---               (5,556)
                                                                                        -------             -------

Net change in cash and cash equivalents.......................................       $  (2,488)          $   5,513
                                                                                        =======             =======


</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 generally accepted accounting principles for interim
financial information. Accordingly, certain information and footnote disclosures
normally included in financial  statements prepared in accordance with generally
accepted  accounting  principles 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, 2000.

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)      New Accounting Pronouncements

In  June  1998,  the  Financial  Accounting  Standards  Board  issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative's  fair value be recognized  currently in
earnings unless specific hedge accounting  criteria are met. CFP has adopted FAS
133, and assessed that it has no material effect on it's financial statements.






                                       11



<PAGE>

                             COSO ENERGY DEVELOPERS
                       UNAUDITED CONDENSED BALANCE SHEETS
                             (Dollars in thousands)
<TABLE>
<CAPTION>



                                                                                    March 31,       December 31,
                                                                                      2001             2000
                                                                                                      (Note)
<S>                                                                               <C>               <C>
Assets:
   Cash and cash equivalents...............................................       $   4,764         $   5,862
   Restricted cash and investments.........................................          12,514            14,502
   Accounts receivable, net................................................           1,539                40
   Prepaid expenses and other assets.......................................             534             1,013
   Amounts due from related parties........................................             374               365
   Property, plant and equipment, net......................................         153,972           153,618
   Power purchase agreement, net...........................................          19,242            19,510
   Investment in Coso Transmission Line Partners...........................           2,871             2,871
   Investment in China Lake Plant Services, Inc............................             949             1,051
   Deferred financing costs, net...........................................           2,401             2,480
                                                                                    -------           -------

                                                                                  $ 199,160         $ 201,312
                                                                                    =======           =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities................................       $  10,779         $   6,839
   Amounts due to related parties..........................................          28,293            24,321
   Project loans...........................................................         100,907           100,907
                                                                                    -------           -------
                                                                                    139,979           132,067
   Partners' capital.......................................................          59,181            69,245
                                                                                    -------           -------

                                                                                  $ 199,160         $ 201,312
                                                                                    =======           =======


</TABLE>

Note:     The condensed balance sheet at December 31, 2000 has been derived from
          the audited financial statements at that date but does not include all
          of the  information  and  footnotes  required  by  generally  accepted
          accounting principles for complete financial statements.



          See accompanying notes to the unaudited condensed financial statements






                                       12




<PAGE>

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

<TABLE>
<CAPTION>


                                                                                     Three-Months        Three-Months
                                                                                        Ended               Ended
                                                                                       March 31,           March 31,
                                                                                         2001                2000
<S>                                                                                  <C>                    <C>
Revenue:
   Energy revenues............................................................       $  25,547           $   5,953
   Capacity...................................................................           1,228               1,227
   Interest and other income..................................................             620               5,315
                                                                                       -------              ------
      Total revenue...........................................................          27,395              12,495

Operating expenses:
   Plant operating expenses...................................................           2,361               2,539
   Royalty expense............................................................           2,868                  65
   Provisions for doubtful accounts...........................................          25,950                 --
   Depreciation and amortization..............................................           3,946               3,876
                                                                                       -------              ------
      Total operating expenses................................................          35,125               6,480

      Operating income (loss).................................................          (7,730)              6,015


Other expenses:
   Interest expense...........................................................           2,257               2,308
   Amortization on deferred financing.........................................              79                  80
                                                                                       -------              ------
      Total other expenses....................................................           2,336               2,388


      Net income (loss).......................................................       $ (10,066)          $   3,627
                                                                                       =======              ======

</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,
                                                                                        2001            2000

<S>                                                                                  <C>            <C>
Net cash provided by operating activities.....................................       $     947      $   9,651
Net cash provided by (used in) investing activities...........................          (2,045)         2,968
Net cash provided by (used in) financing activities...........................             ---         (4,105)
                                                                                        -------        -------

Net change in cash and cash equivalents.......................................       $  (1,098)     $   8,514
                                                                                        =======        =======

</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 generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  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, 2000.

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)      New Accounting Pronouncements

In  June  1998,  the  Financial  Accounting  Standards  Board  issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative's  fair value be recognized  currently in
earnings unless specific hedge accounting  criteria are met. CED has adopted FAS
133, and assessed that it has no material effect on it's financial statements.






                                       15



<PAGE>

                                                COSO POWER DEVELOPERS
                                         UNAUDITED CONDENSED BALANCE SHEETS
                                               (Dollars in thousands)
<TABLE>
<CAPTION>



                                                                                  March 31,         December 31,
                                                                                    2001                2000
                                                                                                       (Note)
<S>                                                                               <C>               <C>
Assets:
   Cash and cash equivalents...............................................       $   7,196         $   7,741
   Restricted cash and investments.........................................           9,458            10,214
   Accounts receivable, net................................................           1,449                29
   Prepaid expenses and other assets.......................................             450               849
   Amounts due from related parties........................................           5,822             5,953
   Property, plant and equipment, net......................................         134,282           136,947
   Power purchase agreement, net...........................................          24,916            25,614
   Investment in Coso Transmission Line Partners...........................           3,528             3,528
   Investment in China Lake Plant Services, Inc............................           1,981             1,963
   Deferred financing costs, net...........................................           2,663             2,855
                                                                                    -------           -------

                                                                                  $ 191,745         $ 195,693
                                                                                    =======           =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities................................          15,138            12,278
   Amounts due to related parties..........................................           8,911             1,816
   Project loans...........................................................          94,176            94,176
                                                                                    -------           -------
                                                                                    118,225           108,270
Partners' capital..........................................................          73,520            87,423
                                                                                    -------           -------

                                                                                  $ 191,745         $ 195,693
                                                                                    =======           =======

</TABLE>





Note:     The condensed balance sheet at December 31, 2000 has been derived from
          the audited financial statements at that date but does not include all
          of the  information  and  footnotes  required  by  generally  accepted
          accounting principles 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,
                                                                                        2001            2000

<S>                                                                                 <C>             <C>
Revenues:
   Energy revenues............................................................      $   23,211      $   8,554
   Capacity...................................................................           1,233          1,234
   Interest and other income..................................................             358            529
                                                                                       -------         ------
      Total revenue...........................................................          24,802         10,317

Operating expenses:
   Plant operating expenses...................................................           1,975          2,105
   Royalty expense............................................................           3,712          1,775
   Provision for doubtful accounts............................................          26,998            --
   Depreciation and amortization..............................................           3,753          3,698
                                                                                       -------         ------
      Total operating expenses................................................          36,438          7,578

      Operating income (loss).................................................         (11,636)         2,739

Other expenses:
   Interest expense...........................................................           2,075          2,354
   Amortization on deferred financing.........................................             192            192
                                                                                       -------         ------
      Total other expenses....................................................           2,267          2,546


      Net income (loss).......................................................      $  (13,903)     $     193
                                                                                       =======         ======

</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,
                                                                                        2001            2000

<S>                                                                                 <C>             <C>
Net cash provided by (used in) operating activities...........................      $     (911)     $  16,815
Net cash provided by (used in) investing activities...........................             366         42,822
Net cash provided by (used in) financing activities...........................             ---        (43,004)
                                                                                          -----        -------

Net change in cash and cash equivalents.......................................      $     (545)     $  16,633
                                                                                          =====       ========

</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 generally accepted  accounting  principles for interim financial
information.  Accordingly, certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  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, 2000.

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)      New Accounting Pronouncements

In  June  1998,  the  Financial  Accounting  Standards  Board  issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative's  fair value be recognized  currently in
earnings unless specific hedge accounting  criteria are met. CPD has adopted FAS
133, and assessed that it has no material effect on it's financial statements.






                                       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   Partnership"),
respectively,  (the "Coso  Partnerships")  or  collectively  ("Coso")  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) that
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,  (vii) the dependence on
third  parties,  (viii)  changes in government  regulation,  (ix) the effects of
competition,  (x) the  dependence on senior  management,  (xi)  fluctuations  in
quarterly results and (xii) seasonality.


General

     The Coso projects 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 projects 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  projects.  On February 25, 1999  Caithness
Acquisition  Company,  LLC, (CAC) purchased all of CalEnergy's  interests in the
Coso projects for $205.0 million in cash, plus the assumption of CalEnergy's and
its affiliates share of debt outstanding at the Coso projects 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%
Senior Secured Notes and the 9.05% 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, 2001, Edison's average avoided cost of
energy paid to the Coso  Partnerships was 15.1 cents per kWh, as compared to 9.3
cents  per kWh for the  three-months  ended  December  31,  2000.  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.

     The Coso  Partnerships  implemented  a  steam-sharing  program,  which they
established  under the Coso Geothermal  Exchange  Agreement they entered into in
1994. 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 projects.  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. 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.  The
BLM Partnership pays a 10% royalty to the Bureau of Land Management based on the
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.

     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 due in 2001 and $303.0  million of 9.05% senior  secured notes due
in 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 depositary agreement,  the Coso partnerships established accounts
with a depositary  and pledged those accounts as security for the benefit of the
holders of the senior secured notes.  All amounts  deposited with the depositary
are, at the direction of the Coso  partnerships,  invested by the  depositary 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 depositary of a certificate from the relevant Coso partnerships detailing
the amounts to be paid from funds in its respective revenue account.


                                       21


     Increases in natural gas prices and an imbalance between supply and demand,
among other factors, has lead to significant  increases in wholesale electricity
prices in California.  Edison had previously  agreed to fixed tariffs with their
retail customers that were  significantly  below the wholesale prices it pays in
California.  This  resulted in  significant  under-recoveries  by Edison of it's
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.  Edison  has not  made  payments  to the  Coso  partnerships  for  power
generated from November 2000 through March 26, 2001. The Coso  partnerships have
billed but  uncollected  receivables  from  Edison of $45,824 for  November  and
December of 2000 and $78,765 for the first quarter of 2001.


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 capacity 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,


                                                   2001                2000
                                                   ----                ----
   Navy I Partnership (stand alone)
     Operating capacity factor                    109.6%              113.3%
     Capacity (MW) (average)                       87.70               90.62
     kWh produced (000s)                          189,422             197,916

   BLM Partnership (stand alone)
     Operating capacity factor                    102.2%              106.3%
     Capacity (MW) (average)                       81.72               85.06
     kWh produced (000s)                          176,524             185,858

   Navy II Partnership (stand alone)
     Operating capacity factor                    106.5%              113.9%
     Capacity (MW) (average)                       85.22               91.08
     kWh produced (000s)                          184,067             198,906

     The Navy I  Partnership's  energy  production was 189.4 million kWh for the
three-months ended March 31, 2001, as compared to 197.9 million kWh for the same
period in 2000, a decrease of 4.3%. The BLM Partnership's  energy production was
176.5  million kWh for the  three-months  ended March 31,  2001,  as compared to
185.9 million kWh for the same period in 2000, a decrease of 5.1%.  The decrease
in production for the BLM Partnership was due to a scheduled  outage for turbine
overhauls during that period in 2001, which did not occur during the same period
in 2000. The Navy II Partnership's  energy  production was 184.1 million kWh for
the three-months  ended March 31, 2001, as compared to 198.9 million kWh for the
same period in 2000, a decrease of 7.4%. That decrease in production in 2001 was
due to increased  steam  transfers  while the Navy II Partnership  received 14.6
cents per kWh for  energy  delivered  during  that  period in 2000.


                                       22


Results of Operations for the three-months ended March 31, 2001 and 2000

     The following  discusses the results of operations of the Coso Partnerships
for the  three-months  ending March 31, 2001 and 2000 (dollar  amounts in tables
are in thousands, except per kWh data):

<TABLE>
<CAPTION>

Revenue

                                                 Three-Months                Three-Months
                                                    Ended                       Ended
                                                 March 31, 2001              March 31, 2000


                                                 $      cents/kWh            $      cents/kWh
                                                 -      ---------            -      ---------
 <S>                                             <C>    <C>                 <C>    <C>
Total Operating Revenues
  Navy I Partnership                           31,870      16.8             8,980       4.5
  BLM Partnership                              26,775      15.2             7,180       3.9
  Navy II Partnership                          24,444      13.3             9,788       4.9

Capacity & Capacity Bonus Revenues
  Navy I Partnership                            1,255       0.7             1,255       0.6
  BLM Partnership                               1,228       0.7             1,227       0.7
  Navy II Partnership                           1,233       0.7             1,234       0.6

Energy Revenues
  Navy I Partnership                           30,615      16.2             7,725       3.9
  BLM Partnership                              25,547      14.5             5,953       3.2
  Navy II Partnership                          23,211      12.6             8,554       4.3

</TABLE>

     Total  operating  revenues  for the Navy I  Partnership,  which  consist of
capacity  payments,  capacity  bonus  payments and energy  payments,  were $31.9
million for the  three-months  ended March 31, 2001, as compared to $9.0 million
for the  same  period  in  2000,  an  increase  of  $22.9  million.  The  Navy I
Partnership's  energy  revenues  were $30.6 million for the  three-months  ended
March 31,  2001,  as  compared to $7.7  million for the same period in 2000,  an
increase of $22.9 million.  Total  operating  revenues for the BLM  Partnership,
which consist of capacity payments, capacity bonus payments and energy payments,
were $26.8  million for the  three-months  ended March 31, 2001,  as compared to
$7.2 million for the same period in 2000, an increase of $19.6 million.  The BLM
Partnership's  energy  revenues  were $25.5 million for the  three-months  ended
March 31,  2001,  as  compared to $6.0  million for the same period in 2000,  an
increase of $19.5 million. Total operating revenues for the Navy II Partnership,
which consist of capacity payments, capacity bonus payments and energy payments,
were $24.4  million for the  three-months  ended March 31, 2001,  as compared to
$9.8 million for the same period in 2000, an increase of $14.6 million. The Navy
II Partnership's  energy revenues were $23.2 million for the three-months  ended
March 31,  2001,  as  compared to $8.6  million for the same period in 2000,  an
increase of $14.6 million.  These increases in operating and energy revenues for
the  three-month  period ended March 31, 2001, as compared to the same period in
2000, were due to the increase in average avoided cost of energy from 3.25 cents
per kWh for the  three-month  period  in 2000,  to 15.1  cents per kWh for three
month period in 2001. Estimates of Edison's future avoided cost of energy, which
fluctuate with the price of natural gas, may vary significantly,  and no one can
predict the likely level of future avoided cost of energy prices.


                                       23


Interest and Other Income

                                   Three-Months                Three-Months
                                      Ended                       Ended
                                  March 31, 2001              March 31, 2000


                                   $     cents/kWh             $     cents/kWh
                                   -     ---------             -     ---------
Navy I Partnership                135       0.1               323       0.2
BLM Partnership                   620       0.4             5,315       2.9
Navy II Partnership               358       0.2               529       0.3

     The Navy I  Partnership's  interest  and other  income was $135,000 for the
three-months  ended March 31, 2001,  as compared to $323,000 for the same period
in 2000, a decrease of 58.2%. The decrease for the three-months  ended March 31,
2001, as compared to the same period in 2000, was primarily due to lower average
cash balances resulting from Edison's  non-payment for delivered energy. The BLM
Partnership's  interest and other income was $620,000 for the three-months ended
March 31,  2001,  as  compared to $5.3  million  for the same period in 2000,  a
decrease of $4.7  million.  The  decrease for the  three-months  ended March 31,
2001,  as  compared  to the same  period  in 2000 was  primarily  due to a legal
settlement of $5 million with Dow Chemical  Company paid to the BLM  Partnership
in  January of 2000 and lower  average  cash  balances  in 2001  resulting  from
Edison's  non-payment for delivered energy.  The Navy II Partnership's  interest
and other  income was  $358,000 for the  three-months  ended March 31, 2001,  as
compared to  $529,000  for the same  period in 2000,  a decrease  of 32.3%.  The
decrease  for the  three-months  ended March 31,  2001,  as compared to the same
period in 2000, was primarily due to lower average cash balances  resulting from
Edison's  non-payment for energy delivered  during the three-month  period ended
March 31, 2001.


Plant Operations

                                   Three-Months                Three-Months
                                       Ended                       Ended
                                  March 31, 2001              March 31, 2000


                                   $     cents/kWh             $     cents/kWh
                                   -     ---------             -     ---------
Navy I Partnership              1,762       0.9             2,072       1.0
BLM Partnership                 2,361       1.3             2,539       1.4
Navy II Partnership             1,975       1.1             2,105       1.1

     The  Navy I  Partnership's  operating  expenses,  including  operating  and
general and  administrative  expenses,  were $1.8  million for the  three-months
ended March 31, 2001, as compared to $2.1 million for the same period in 2000, a
decrease of 14.3%. The BLM Partnership's operating expenses, including operating
and general and administrative  expenses, were $2.4 million for the three-months
ended March 31, 2001, as compared to $2.5 million for the same period in 2000, a
decrease  of  4.0%.  The Navy II  Partnership's  operating  expenses,  including
operating  and general and  administrative  expenses,  were $2.0 million for the
three-months  ended March 31,  2001,  as  compared to $2.1  million for the same
period  in  2000,  a  decrease  of  4.8%.  The  decreases  for  each of the Coso
Partnerships for the three-months  ended March 31, 2001, as compared to the same
period in 2000, were primarily due to the implementation of management's ongoing
plan to reduce operating costs, which began in March of 2000.


                                       24


Royalty Expense

                                   Three-Months                Three-Months
                                       Ended                       Ended
                                  March 31, 2001             March 31, 2000

                                   $     cents/kWh             $     cents/kWh
                                   -     ---------             -     ---------
Navy I Partnership              3,770       2.0             1,189       0.6
BLM Partnership                 2,868       1.6                65       0.0
Navy II Partnership             3,712       2.0             1,775       0.9

     The  Navy  I  Partnership's  royalty  expense  was  $3.8  million  for  the
three-months  ended March 31,  2001,  as  compared to $1.2  million for the same
period in 2000,  an  increase of $2.6  million.  The BLM  Partnership's  royalty
expense was $2.9 million for the three-months  ended March 31, 2001, as compared
to $65,000 for the same period in 2000, an increase of $2.8 million. The Navy II
Partnership's  royalty expense was $3.7 million for the three-months ended March
31, 2001,  as compared to $1.8 million for the same period in 2000,  an increase
of $1.9 million.  Each Coso  Partnership's  increase in royalty  expense for the
three-months  ended March 31, 2001, as compared to the same period in 2000,  was
directly  related to the  increase in average  avoided  cost of energy from 3.25
cents per kWh for the three-month  period ended March 31, 2000 to 15.1 cents per
kWh for the three-month period ended March 31, 2001.


Depreciation and Amortization

                                   Three-Months                Three-Months
                                       Ended                       Ended
                                  March 31, 2001              March 31, 2000

                                   $     cents/kWh             $     cents/kWh
                                   -     ---------             -     ---------
Navy I Partnership              2,499       1.3             2,353       1.2
BLM Partnership                 3,946       2.2             3,876       2.1
Navy II Partnership             3,753       2.0             3,698       2.0

     Depreciation and amortization expenses for the three-months ended March 31,
2001 as  compared  to the same period in 2000,  remained  consistent  over these
periods.


Interest Expense

                                   Three-Months                Three-Months
                                       Ended                       Ended
                                  March 31, 2001              March 31, 2000

                                   $     cents/kWh             $     cents/kWh
                                   -     ---------             -     ---------
Navy I Partnership              2,984       1.6             3,173       1.6
BLM Partnership                 2,257       1.3             2,308       1.2
Navy II Partnership             2,075       1.1             2,354       1.2


     The  Navy I  Partnership's  interest  expense  was  $3.0  million  for  the
three-months  ended March 31,  2001,  as  compared to $3.2  million for the same
period in 2000, a decrease of 6.3%. The Navy II  Partnership's  interest expense
was $2.1 million for the three-months  ended March 31, 2001, as compared to $2.4
million for the same period in 2000, a decrease of 12.5%.  These  decreases  for
the  three-months  ended March 31, 2001,  as compared to the same period in 2000
were due to reductions in the principal  amount of the project loan from Funding
Corp.


                                       25


Provision for Doubtful Accounts

     In recent months, Edison has experienced significant cash flow problems due
in part to the difference  between revenues  received from its customers through
currently  frozen  electric  rates  and the  cost of  producing  service  to its
customers,  including the cost to acquire electricity.  This cash flow shortfall
has adversely  affected Edison's  liquidity and in turn it has not paid the Coso
Partnerships for the energy delivered from November 2000 through March 26, 2001.
Despite extensive and continuing negotiations with Edison, the Coso Partnerships
have been  unable to secure  from  Edison a firm  indication  of the time  frame
during which they can expect payment for the remainder of the first quarter 2001
receivables,  nor the amount, if any, that Edison is prepared to pay. Therefore,
the Coso  Partnerships  increased  the allowance  for  uncollectible  amounts by
$25,817, $25,950 and $26,998 for Navy I, BLM and Navy II, respectively,  for the
three-month period ended March 31, 2001.


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.
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  Partnership's  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  increasing
under-collections,   coupled  with  its  near  term  capital   requirements  has
materially  and adversely  affected its  liquidity.  Unless actions are taken to
restore  Edison's  financial  condition,  there is  uncertainty of collection of
receivables  owed to the Coso  Partnerships  for revenues  generated  during the
first quarter of 2001 and forward.  Edison's failure to pay its obligations will
have a material  adverse effect on the Coso  Partnership's  ability to make debt
service payments as they come due under the Funding Corp. notes.

     On March 27, 2001 the California Public Utility Commission ("CPUC") ordered
Edison to resume paying  qualifying  facilities such as the Coso Partnerships at
rates stipulated by the CPUC. For the month of April, the CPUC ordered Edison to
prepay  by  mid-month  for  April  generation.   On  April  19,  2001  the  Coso
Partnerships recieved the payment which was based on historical output. On April
30, 2001 a second payment was recieved for generation sold in the last five days
of March.

     The following  table sets forth a summary of each Coso  Partnership's  cash
flows for the three-months ended March 31, 2001 and March 31, 2000.




<TABLE>
<CAPTION>

                                                                      Three-Months       Three-Months
                                                                         Ended               Ended
                                                                     March 31, 2001     March 31, 2000
<S>                                                                    <C>                <C>
Navy I Partnership (stand alone)
  Net cash provided by (used in) operating activities                  $   (2,470)        $    8,624
  Net cash provided by (used in) investing activities                         (18)             2,445
  Net cash provided by (used in) financing activties                          --              (5,556)
                                                                           -------           -------
      Net change in cash and cash equivalents                          $   (2,488)        $    5,513
                                                                           =======           =======

BLM Partnership (stand alone)
  Net cash provided by operating activities                            $      947         $    9,651
  Net cash provided by (used in) investing activities                      (2,045)             2,968
  Net cash provided by (used in) financing activities                         ---             (4,105)
                                                                           -------           -------
      Net change in cash and cash equivalents                          $   (1,098)        $    8,514
                                                                           =======           =======


                                       26


Navy II Partnership (stand alone)
  Net cash provided by (used in) operating activities                  $     (911)        $   16,815
  Net cash provided by (used in) investing activities                         366             42,822
  Net cash provided by (used in) financing activities                         ---            (43,004)
                                                                           -------           -------
      Net change in cash and cash equivalents                          $      545         $   16,633
                                                                           =======           =======

</TABLE>


     The Navy I Partnership's cash flows from operating  activities decreased by
$11.1 million for the three-months ended March 31, 2001, as compared to the same
period  in 2000,  primarily  due to  increases  in  receivables  as a result  of
Edison's non-payment for energy delivered.

     Cash used in investing  activities at the Navy I  Partnership  increased by
$2.5 million for the three-months ended March 31, 2001, as compared to the same
period in 2000,  primarily  due to a decrease in  restricted  cash  requirements
associated with the project loan from Funding Corp.

     The Navy I Partnership's cash flows from financing  activities increased by
$5.6 million for the three-months  ended March 31, 2001, as compared to the same
period in 2000,  due to a payment on the  project  loan from  Funding  Corp.  in
January of 2000.

     The BLM  Partnership's  cash flows from operating  activities  decreased by
$8.7 million for the three-months  ended March 31, 2001, as compared to the same
period  in 2000,  primarily  due to  increases  in  receivables  as a result  of
Edison's non-payment for energy delivered.

     Cash used in investing activities at the BLM Partnership  increased by $5.0
million  for the  three-months  ended  March 31,  2001,  as compared to the same
period in 2000,  primarily  due to a decrease in  restricted  cash  requirements
associated with the project loan from Funding Corp. for the  three-month  period
ended March 31, 2000.

     The BLM  Partnership's  cash flows from financing  activities  increased by
$4.1 million for the three-months  ended March 31, 2001, as compared to the same
period in 2000,  due to a payment on the  project  loan from  Funding  Corp.  in
January of 2000.

     The Navy II Partnership's cash flows from operating activities decreased by
$17.7 million for the three-months ended March 31, 2001, as compared to the same
period  in 2000,  primarily  due to  increases  in  receivables  as a result  of
Edison's non-payment for energy delivered.

     Cash flows from investing  activities at the Navy II Partnership  decreased
by $42.5 million for the  three-months  ended March 31, 2001, as compared to the
same period in 2000, primarily due to a decrease in restricted cash requirements
associated with the project loan from Funding Corp. for the  three-month  period
ended March 31, 2000

     The Navy II Partnership's cash flows from financing activities increased by
$43.0 million for the three-months ended March 31, 2001, as compared to the same
period in 2000,  due to a payment on the  project  loan from  Funding  Corp.  in
January of 2000.


                                       27



New Accounting Pronouncements

     In June 1998, the Financial  Accounting  Standards  Board issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative's  fair value be recognized  currently in
earnings   unless  specific  hedge   accounting   criteria  are  met.  The  Coso
Partnerships  have adopted FAS 133, and assessed that it has no material  effect
on their financial statements.


PART II.  OTHER INFORMATION


ITEM 1.  Legal Proceedings

Settlement of Litigation

     In  February  2000,  Navy I, Navy II,  and BLM  reached a  settlement  with
Edison, subject to the approval of California Public Utilities Commission, which
was  received  in December  2000.  The case has not yet been  dismissed  pending
completion of certain  obligations of the Coso Partnerships under the settlement
agreements.   The  cost  of  the  settlement   was  allocated   among  the  Coso
Partnerships.

General

     Except as otherwise  described above,  the Coso  Partnerships are currently
parties to various  minor  items of  litigation,  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.

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
compilation 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
Generally Accepted  Accounting  Principles 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.



                                       28



     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.


                                       29


<PAGE>



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

<TABLE>
<CAPTION>


                                                                                  March 31,         December 31,
                                                                                    2001                2000


<S>                                                                              <C>               <C>
Assets:
   Cash and cash equivalents...............................................      $  12,978         $  17,109
   Restricted cash and investments.........................................         44,433            47,712
   Accounts receivable, net................................................          4,479               590
   Prepaid expenses and other assets.......................................          1,416             2,671
   Amounts due from related parties........................................          5,964             6,191
   Property, plant and equipment, net......................................        435,670           439,641
   Power purchase agreement, net...........................................         56,111            57,364
   Investments.............................................................         13,391            13,485
   Deferred financing costs, net...........................................          8,164             8,564
                                                                                   -------           -------

                                                                                 $ 582,606         $ 593,327
                                                                                   =======           =======

Liabilities and Partners' Capital:
   Accounts payable and accrued liabilities................................      $  53,168        $   36,260
   Amounts due to related parties..........................................         24,756            23,460
   Project loans...........................................................        330,067           330,067
                                                                                   -------           -------
                                                                                   407,991           389,787
Partners' capital..........................................................        174,615           203,540
                                                                                   -------           -------

                                                                                 $ 582,606         $ 593,327
                                                                                   =======           =======






     See accompanying notes to the unaudited condensed combined financial statements


</TABLE>






                                       30



<PAGE>



                                COSO PARTNERSHIPS
              UNAUDITED CONDENSED COMBINED STATEMENTS OF OPERATIONS
                             (Dollars in thousands)
<TABLE>
<CAPTION>


                                                                                     Three-Months        Three-Months
                                                                                        Ended               Ended
                                                                                        March 31,           March 31,
                                                                                         2001                2000
<S>                                                                                  <C>                 <C>
Revenue:
   Energy revenues............................................................       $  79,372           $  22,232
   Capacity...................................................................           3,717               3,716
   Interest and other income..................................................           1,113               6,167
                                                                                       --------             ------
          Total revenue.......................................................          84,202              32,115

Operating expenses:
   Plant operating expenses...................................................           6,097               6,716
   Royalty expense............................................................          10,351               3,029
   Provision for doubtful accounts............................................          78,765                 --
   Depreciation and amortization..............................................          10,198               9,927
                                                                                       --------             ------
          Total operating expenses............................................         105,411              19,672

          Operating income (loss).............................................         (21,209)             12,443

  Other expenses:
   Interest expense...........................................................           7,316               7,835
   Amortization on deferred financing.........................................             401                 402
                                                                                       --------             ------
          Total other expenses................................................           7,717               8,237


          Net income (loss)...................................................       $ (28,926)          $   4,206
                                                                                       ========             ======





     See accompanying notes to the unaudited condensed combined financial statements

</TABLE>






                                       31



<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,
                                                                                         2001                2000
<S>                                                                                  <C>                 <C>
Net cash provided by (used in) operating activities...........................       $  (2,435)          $  35,090
Net cash provided by (used in) investing activities...........................          (1,696)             48,235
Net cash provided by (used in) financing activities...........................             ---             (52,665)
                                                                                        -------            --------

Net change in cash and cash equivalents.......................................       $  (4,131)          $  30,660
                                                                                        =======            ========






     See accompanying notes to the unaudited condensed combined financial statements

</TABLE>






                                       32



<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 read in conjunction with each individual
partnership's unaudited condensed financial statements.

(2)      New Accounting Pronouncements

In  June  1998,  the  Financial  Accounting  Standards  Board  issued  Financial
Accounting Standards No. (FAS) 133,  "Accounting for Derivative  Instruments and
Hedging  Activities."  The  statement   establishes   accounting  and  reporting
standards  requiring  that  every  derivative   instrument   (including  certain
derivative  instruments  embedded in other contracts) be recorded in the balance
sheet as either an asset or liability  measured at its fair value. The statement
requires the changes in the derivative's  fair value be recognized  currently in
earnings   unless  specific  hedge   accounting   criteria  are  met.  The  Coso
Partnerships  have adopted FAS 133, and assessed that it has no material  effect
on their financial statements.


                                       33


<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

         The Coso Partnerships  filed current reports on Form 8-K dated January
         18, 2001  reporting  Moodys  Investor  Services  downgrade  of Funding
         Corp's  notes on January 17, 2001 to "Caa2"  reflecting  their  recent
         downgrade of Edison to a similar rating.


                                       34


<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-31-2000           DEC-31-2001
                                            -----------           -----------
                                            mmm-dd-yyyy           mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2000           JAN-01-2001
                                            -----------           -----------
                                            mmm-dd-yyyy           mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2000           MAR-31-2001
                                            -----------           -----------
                                            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                                            331,353                     338,668
ALLOWANCES                                                   0                           0
INVENTORY                                                    0                           0
CURRENT ASSETDS                                          1,286                       8,601
PP&E                                                         0                           0
DEPRECIATION                                                 0                           0
TOTAL ASSETS                                           331,353                     338,668
CURRENT LIABILITIES                                      1,286                       8,601
BONDS                                                  300,067                     330,067
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             331,353                     338,668
SALES                                                        0                           0
TOTAL REVENUES                                          30,799                       8,601
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                               0                           0
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                       30,799                       8,601
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-31-2000          DEC-31-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2000          JAN-01-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2000          MAR-31-2001
                                            -----------          -----------
                                            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                                                     3,506                       1,018
SECURITIES                                              22,996                      22,461
RECEIVABLES                                             17,715                      50,334
ALLOWANCES                                              15,234                      41,051
INVENTORY                                                    0                           0
CURRENT ASSETS                                           6,796                      10,733
PP&E                                                   228,718                     229,410
DEPRECIATION                                            79,642                      81,994
TOTAL ASSETS                                           198,409                     199,725
CURRENT LIABILITIES                                     16,554                      22,827
BONDS                                                  134,984                     134,984
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             198,409                     199,725
SALES                                                   67,653                      31,870
TOTAL REVENUES                                          70,159                      32,005
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          44,358                      33,848
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                       13,013                       3,114
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                              12,788                     (4,957)
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-31-2000          DEC-31-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2000          JAN-01-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2000          MAR-31-2001
                                            ---------------      -----------
                                            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                                                     5,862                       4,764
SECURITIES                                              14,502                      12,514
RECEIVABLES                                             15,684                      43,142
ALLOWANCES                                              15,279                      41,229
INVENTORY                                                    0                           0
CURRENT ASSETS                                           7,280                       7,211
PP&E                                                   238,244                     242,313
DEPRECIATION                                            84,626                      88,341
TOTAL ASSETS                                           201,312                     199,160
CURRENT LIABILITIES                                     31,160                      39,072
BONDS                                                  100,907                     100,907
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             201,312                     199,160
SALES                                                   57,453                      26,775
TOTAL REVENUES                                          65,578                      27,395
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          46,693                      35,125
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                        9,492                       2,336
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                               9,393                    (10,066)
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-31-2000          DEC-31-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD START
(example: JAN-01-1997)                      Jan-01-2000          JAN-01-2001
                                            -----------          -----------
                                            mmm-dd-yyyy          mmm-dd-yyyy
PERIOD END
(example: SEP-30-1997)                      Dec-31-2000          MAR-31-2001
                                            -----------          -----------
                                            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                                                     7,741                       7,196
SECURITIES                                              10,214                       9,458
RECEIVABLES                                             21,294                      49,581
ALLOWANCES                                              15,312                      42,310
INVENTORY                                                    0                           0
CURRENT ASSETS                                          14,572                      14,917
PP&E                                                   209,605                     210,095
DEPRECIATION                                            72,658                      75,813
TOTAL ASSETS                                           195,693                     191,745
CURRENT LIABILITIES                                     14,094                      24,049
BONDS                                                  94,176                       94,176
PREFERRED MANDATORY                                          0                           0
PREFERRED                                                    0                           0
COMMON                                                       0                           0
OTHER SE                                                     0                           0
TOTAL LIABILITY AND EQUITY                             195,639                     191,745
SALES                                                   58,366                      24,444
TOTAL REVENUES                                          61,234                      24,802
CGS                                                          0                           0
TOTAL COSTS                                                  0                           0
OTHER EXPENSES                                          49,895                      36,438
LOSS PROVISION                                               0                           0
INTEREST EXPENSES                                        9,899                       2,267
INCOME PRETAX                                                0                           0
INCOME TAX                                                   0                           0
INCOME CONTINUING                                            0                           0
DISCONTINUED                                                 0                           0
EXTRAORDINARY                                                0                           0
CHANGES                                                      0                           0
NET INCOME                                               1,440                    (13,903)
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 10, 2001                         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 corporation

                                             By:   /S/ CHRISTOPHER T. MCCALLION
                                                  -----------------------------

                                             Christopher T. McCallion
                                             Executive Vice President &
                                             Chief Financial Officer
                                             (Principal Financial and
                                             Accounting Officer)


                                            COSO ENERGY DEVELOPERS
                                            a California corporation

                                             By:   /S/ CHRISTOPHER T. MCCALLION
                                                  -----------------------------

                                             Christopher T. McCallion
                                             Executive Vice President &
                                             Chief Financial Officer
                                             (Principal Financial and
                                             Accounting Officer)


                                            COSO POWER DEVELOPERS
                                            a California corporation

                                             By:   /S/ CHRISTOPHER T. MCCALLION
                                                  -----------------------------

                                             Christopher T. McCallion
                                             Executive Vice President &
                                             Chief Financial Officer
                                             (Principal Financial and
                                             Accounting Officer)