Exhibit 12.1

                                          SALTON SEA FUNDING CORPORATION
                                        Ratio of Earnings to Fixed Charges

                                       (Amounts in Thousands, except ratio)


                                                                                                     From
                                                                                                 June 20, 1995
                                                                                                (Inception Date)
                                                                           Three Months               through
                                                                              Ended                December 31,
                                                                          March 31, 1996               1995
                                                                            -----------             -----------
                                                                                                
Pre-tax income from continuing operations                                           870                   2,555
Capitalized interest, net of amortization
                                                                            -----------             -----------
                                                                                    870                   2,555
Fixed Charges:
     Interest expense and amortization of
         deferred finance charges on all
         indebtedness                                                             7,990                  15,022
                                                                            -----------             -----------
     Interest portion of lease rentals
         Total fixed charges                                                      7,990                  15,022
                                                                            -----------             -----------
Earnings before income taxes, and
     fixed charges                                                                8,860                  17,577
                                                                            ===========             ===========
Ratio of earnings to fixed charges                                                1.109                   1.170
                                                                            -----------             -----------