CALIFORNIA ENERGY <CECI> NEGOTIATES FINANCING
California Energy Co Inc
said it negotiated a 160 mln dlr private financing with Drexel
Burnham Lambert Inc.
    As part of the financing, it received a commitment letter,
subject to standard conditions, for 133 mln dlrs of project
financing from Credit Suisse.
    Proceeds from the financing will be used for equipment
procurement and construction of an 80-megawatt power plant by
its China Lake Joint Venture, the company said. It said the
plant will be built on a geothermal site at China Lake, Calif.,
on property leased from the federal government.
 Reuter
