content: Securities and Exchange Commission
  
                               Washington, DC 20549
  
                                     Form 8-K
  
                                  Current Report
  
  
  
                       Pursuant to Section 13 or 15(d) of the
                            Securities Exchange Act 1934
  
  
                             Date of Report May 19, 1997
                         (Date of earliest event reported)
  
  
  
  
                               CalEnergy Company, Inc.
               (Exact name of registrant as specified in its charter)
  
  
  
  
         Delaware	         		1-9874            				94-2213782
         (State of other   		(Commission File   			(IRS Employer
         jurisdiction of	  		Number)			           	Identification No.)
         incorporation)
  
  
              302 South 36th Street, Suite 400,			Omaha, NE		68131
              (Address of principal executive offices)					Zip Code
  
  
      Registrant's Telephone Number, including area code:  (402) 341-4500	
  
  
                                     						N/A							
  
  Item 5.  Other Events
  
  	In November 1995, a partially owned (currently 35%) indirect subsidiary 
  of the Registrant, CE Casecnan Water and Energy Company, Inc., a Philippine 
  corporation ("CE Casecnan"), closed the financing and commenced construction 
  of the Casecnan Project, a combined irrigation and 150 net MW hydroelectric 
  power generation project (the "Casecnan Project") located in the central part 
  of the island of Luzon in the Republic of the Philippines.
  
  	In its Form 8-K dated May 7, 1997, the Registrant reported that CE 
  Casecnan had terminated the fixed-price, date-certain, turnkey construction 
  contract (the "Hanbo Contract") with Hanbo Corporation and Hanbo Engineering 
  and Construction Co., Ltd., both of which are South Korean corporations 
  (collectively "Hanbo") due to defaults by Hanbo including Hanbo's insolvency.  
  CE Casecnan further reported that it had entered into a new turnkey 
  engineering, procurement and construction contract to complete the 
  construction of the Casecnan Project (the "Replacement Contract").  The work 
  under the Replacement Contract will be conducted by a consortium of 
  contractors and subcontractors including Siemens A.G., Sulzer Hydro Ltd., 
  Black & Veatch and Colenco Power Engineering Ltd. and will be headed by 
  Cooperativa Muratori Cementisti CMC di Ravenna and Impressa Pizzarotti & C. 
  Spa. 
  
  	In connection with the Hanbo Contract termination, CE Casecnan tendered a 
  Certificate of Drawing to Korea First Bank on May 7, 1997 under the irrevocable 
  standby letter of credit issued by Korea First Bank ("KFB") as security under 
  the Hanbo Contract to pay for certain transition costs and other presently 
  ascertainable damages under the Hanbo Contract.  As a result of Korea First 
  Bank's wrongful dishonor of the draw request last week, CE Casecnan was forced 
  to file an action in New York State Court. That Court granted CE Casecnan's 
  request for a temporary restraining order requiring Korea First Bank to 
  deposit $79,329,000, the amount of the requested draw, in an interest bearing 
  account with an independent financial institution in the United States. KFB 
  appealed this order, but the appellate court denied KFB's appeal and on May 
  19, 1997, KFB was required to transfer funds in the amount of $79,329,000 to a 
  segregated New York bank account.  A press release issued by CE Casecnan is 
  attached hereto and incorporated herein by reference.
  
  
  Item 7.  Financial Statements and Exhibits
  
  	Exhibit 1 - Press Release dated May 20, 1997
  
  
  
                                      SIGNATURE
  
  
  	Pursuant to the requirements of the Securities Exchange Act of 1934, the 
  Registrant has duly caused this report to be signed on its behalf by the 
  undersigned hereunto duly authorized.
  
  
                            					CalEnergy Company, Inc.
  
  
                            					By:	\s\Steven A. McArthur	
                                  						Steven A. McArthur
                                  						Senior Vice President
  
  Dated:  May 20, 1997
metadata_documents: [{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 4026}]
metadata_filer: {"company-data": {"conformed-name": "CALENERGY CO INC", "cik": "0000720556", "assigned-sic": "4991", "irs-number": "942213782", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09874", "film-number": "97612113"}, "business-address": {"street1": "302 S 36TH ST", "street2": "STE 400", "city": "OMAHA", "state": "NE", "zip": "68131", "phone": "4023414500"}, "mail-address": {"street1": "302 SOUTH 36TH STREET", "street2": "SUITE 400-A", "city": "OMAHA", "state": "NE", "zip": "68131"}, "former-company": {"former-conformed-name": "CALIFORNIA ENERGY CO INC", "date-changed": "19920703"}}
text: Securities and Exchange Commission
  
                               Washington, DC 20549
  
                                     Form 8-K
  
                                  Current Report
  
                       Pursuant to Section 13 or 15(d) of the
                            Securities Exchange Act 1934
  
                             Date of Report May 19, 1997
                         (Date of earliest event reported)
  
                               CalEnergy Company, Inc.
               (Exact name of registrant as specified in its charter)
  
         Delaware	         		1-9874            				94-2213782
         (State of other   		(Commission File   			(IRS Employer
         jurisdiction of	  		Number)			           	Identification No.)
         incorporation)
  
              302 South 36th Street, Suite 400,			Omaha, NE		68131
              (Address of principal executive offices)					Zip Code
  
      Registrant's Telephone Number, including area code:  (402) 341-4500	
  
                                     						N/A							
  
  Item 5.  Other Events
  
  	In November 1995, a partially owned (currently 35%) indirect subsidiary 
  of the Registrant, CE Casecnan Water and Energy Company, Inc., a Philippine 
  corporation ("CE Casecnan"), closed the financing and commenced construction 
  of the Casecnan Project, a combined irrigation and 150 net MW hydroelectric 
  power generation project (the "Casecnan Project") located in the central part 
  of the island of Luzon in the Republic of the Philippines.
  
  	In its Form 8-K dated May 7, 1997, the Registrant reported that CE 
  Casecnan had terminated the fixed-price, date-certain, turnkey construction 
  contract (the "Hanbo Contract") with Hanbo Corporation and Hanbo Engineering 
  and Construction Co., Ltd., both of which are South Korean corporations 
  (collectively "Hanbo") due to defaults by Hanbo including Hanbo's insolvency.  
  CE Casecnan further reported that it had entered into a new turnkey 
  engineering, procurement and construction contract to complete the 
  construction of the Casecnan Project (the "Replacement Contract").  The work 
  under the Replacement Contract will be conducted by a consortium of 
  contractors and subcontractors including Siemens A.G., Sulzer Hydro Ltd., 
  Black & Veatch and Colenco Power Engineering Ltd. and will be headed by 
  Cooperativa Muratori Cementisti CMC di Ravenna and Impressa Pizzarotti & C. 
  Spa. 
  
  	In connection with the Hanbo Contract termination, CE Casecnan tendered a 
  Certificate of Drawing to Korea First Bank on May 7, 1997 under the irrevocable 
  standby letter of credit issued by Korea First Bank ("KFB") as security under 
  the Hanbo Contract to pay for certain transition costs and other presently 
  ascertainable damages under the Hanbo Contract.  As a result of Korea First 
  Bank's wrongful dishonor of the draw request last week, CE Casecnan was forced 
  to file an action in New York State Court. That Court granted CE Casecnan's 
  request for a temporary restraining order requiring Korea First Bank to 
  deposit $79,329,000, the amount of the requested draw, in an interest bearing 
  account with an independent financial institution in the United States. KFB 
  appealed this order, but the appellate court denied KFB's appeal and on May 
  19, 1997, KFB was required to transfer funds in the amount of $79,329,000 to a 
  segregated New York bank account.  A press release issued by CE Casecnan is 
  attached hereto and incorporated herein by reference.
  
  Item 7.  Financial Statements and Exhibits
  
  	Exhibit 1 - Press Release dated May 20, 1997
  
                                      SIGNATURE
  
  	Pursuant to the requirements of the Securities Exchange Act of 1934, the 
  Registrant has duly caused this report to be signed on its behalf by the 
  undersigned hereunto duly authorized.
  
                            					CalEnergy Company, Inc.
  
                            					By:	\s\Steven A. McArthur	
                                  						Steven A. McArthur
                                  						Senior Vice President
  
  Dated:  May 20, 1997