FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

              QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934.

                For the quarterly period ended September 30, 2000

                         Commission file Number 0-24143

                        RIDGEWOOD ELECTRIC POWER TRUST V
            (Exact name of registrant as specified in its charter.)

          Delaware                                         22-3437351
(State or other jurisdiction of                     (I.R.S. Employer
 incorporation or organization)                      Identification No.)

   947 Linwood Avenue, Ridgewood, New Jersey                07450-2939
   ------------------------------------------------------------------------
   (Address of principal executive offices)                 (Zip Code)

               (201) 447-9000
               ----------------
Registrant's telephone number, including area code:

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. YES [X] NO [ ]





<PAGE>


                         PART I. - FINANCIAL INFORMATION

Item 1. Financial Statements















                        Ridgewood Electric Power Trust V

                        Consolidated Financial Statements

                               September 30, 2000



<PAGE>


Ridgewood Electric Power Trust V
Consolidated Balance Sheet
--------------------------------------------------------------------------------


                                                  September 30,    December 31,
                                                      2000            1999
                                                  ------------    ------------
Assets:                                            (unaudited)
Cash and cash equivalents .....................   $  2,026,120    $ 14,759,184
Due from affiliates ...........................        852,038         675,185
Other current assets ..........................        433,551         404,351
                                                  ------------    ------------

     Total current assets .....................      3,311,709      15,838,720

Investments:
    Maine Hydro Projects ......................      5,142,875       5,663,505
    Maine Biomass Projects ....................      5,529,722       5,825,271
    MetaSound Systems .........................        203,730         921,163
    Quantum Conveyor ..........................      2,889,740       2,810,410
    Santee River Rubber Project ...............           --         8,186,456
    Egypt Projects ............................      7,002,735       4,736,093
    Mediterranean Fiber Optic Project/GFG .....           --         1,497,670
    United Kingdom Landfill Projects ..........     16,812,025      16,916,309
    Synergics Hydro ...........................      5,369,995            --
                                                  ------------    ------------
     Total assets .............................   $ 46,262,531    $ 62,395,597
                                                  ------------    ------------
Liabilities and shareholders' equity:
Liabilities:
Accounts payable and accrued expenses .........   $    151,370    $    174,857
Due to affiliates .............................         19,519         449,178
                                                  ------------    ------------
     Total current liabilities ................        170,889         624,035
                                                  ------------    ------------
Minority interest .............................        970,890       1,337,769

Commitments and contingencies

Shareholders' equity:
 Shareholders' equity (932.8875 investor
  shares issued and outstanding) ..............     45,484,511      60,644,421
 Subscription receivable ......................        (23,000)        (23,000)
                                                  ------------    ------------
     Shareholders' equity, net ................     45,461,511      60,621,421
 Managing shareholder's accumulated
  deficit (1 management share
       issued and outstanding) ................       (340,759)       (187,628)
                                                  ------------    ------------
     Total shareholders' equity ...............     45,120,752      60,433,793
                                                  ------------    ------------

     Total liabilities and shareholders' equity   $ 46,262,531    $ 62,395,597
                                                  ------------    ------------



                 See accompanying notes to financial statements.

<PAGE>

Ridgewood Electric Power Trust V
Consolidated Statement of Operations (unaudited)
--------------------------------------------------------------------------------

                              Nine Months Ended           Three Months Ended
                             ------------------------    ----------------------
                                   September 30,                September 30,
                                 2000         1999          2000          1999
                             -----------    ---------    ----------    ---------
Revenue:
Interest income .............$   361,101 $  1,309,706 $     38,580 $    217,377
Income (loss) from Maine
 Hydro Projects .............    279,370      459,874     (382,363)    (194,787)
Loss from Maine Biomass
 Projects ...................   (295,549)    (666,216)    (125,453)    (255,719)
(Loss) income from Santee
 River Rubber Project .......   (361,042)     209,167         --         79,562
Income (loss) from Quantum
 Conveyor ...................     79,330     (184,890)     173,883      (55,138)
(Loss) from MetaSound Systems   (717,434)    (790,661)    (150,992)    (363,198)
Income from Egypt Projects .      66,386         --          4,774         --
Loss from Mediterranean Fiber
 Optic Project/GFG .........     (49,924)        --           --           --
Income from United Kingdom
 Landfill Projects .........   1,175,012      369,873      355,027      369,873
Income from Synergics Hydro      312,500         --        187,500         --
                             ------------ ------------ ------------ ------------
      Total revenue ........     849,750      706,853      100,956     (202,030)
                             ----------- ------------ ------------ ------------
Expenses:
Due diligence costs .......         --        178,988         --         77,000
Accounting and legal fees .      188,641       61,632       36,088        7,363
Management fee ............    1,674,301    1,857,274      583,056      593,752
Research and development ..      833,816      567,762      171,204      217,478
Miscellaneous .............      185,965       85,374      164,449         --
Writedown of investment
 in Mediterranean Fiber
 Optic Project/GFG ........    1,447,746         --           --           --
Writedown of investment
 in Santee River Rubber
 Project ..................    8,247,340         --      8,247,340         --
                            ------------ ------------ ------------ ------------
      Total expenses ........ 12,577,809    2,757,530    9,202,137      895,593
                             ----------- ------------ ------------ ------------

Loss from operations ........(11,728,059)  (2,050,677)  (9,101,181)  (1,097,623)

Minority interest
 in loss of subsidiary ......    366,879      176,670       75,329       54,249
                             ----------- ------------ ------------ ------------

Net loss ...................$(11,361,180)$ (1,874,007)$ (9,025,852)$ (1,043,374)
                            ------------ ------------  ------------ ------------











                 See accompanying notes to financial statements.






Ridgewood Electric Power Trust V
Consolidated Statement of Changes in Shareholders' Equity (unaudited)
--------------------------------------------------------------------------------


                                      Subscription    Managing
                         Shareholders    Receivable  Shareholder      Total
                         ------------    ---------   -----------    -----------

Shareholders' equity,
 December 31, 1999 ...   $ 60,644,421    $(23,000)   $ (187,628)   $ 60,433,793

Cash distributions ...     (2,645,839)       --         (26,726)     (2,672,565)

Cumulative translation
 adjustment ..........     (1,266,503)       --         (12,793)     (1,279,296)

Net loss for the year     (11,247,568)       --        (113,612)    (11,361,180)
                         ------------    ---------    ----------    ------------

Shareholders' equity,
 September 30, 2000 ..   $ 45,484,511    $(23,000)     (340,759)   $ 45,120,752
                         ------------    ---------    ----------    ------------






Ridgewood Electric Power Trust V
Consolidated Statement of Comprehensive Loss  (unaudited)
--------------------------------------------------------------------------------


                       Nine Month Ended             Three Months Ended
                ----------------------------    ----------------------------
                September 30,   September 30,   September 30,    September 30,
                   2000             1999            2000            1999
                ------------    ------------    ------------    ------------

Net loss ....   $(11,361,180)   $ (1,874,007)   $ (9,025,852)   $ (1,043,374)

Cumulative
 translation
 adjustment .     (1,279,296)           --          (222,026)           --
                ------------    ------------    ------------    ------------

Comprehensive
 loss .......   $(12,640,476)   $ (1,874,007)   $ (9,247,878)   $ (1,043,374)
                ------------    ------------    ------------    ------------







                 See accompanying notes to financial statements.

<PAGE>


Ridgewood Electric Power Trust V
Consolidated Statement of Cash Flows (unaudited)
--------------------------------------------------------------------------------

                                                          Nine Months Ended
                                                 -------------------------------
                                                 September 30,     September 30,
                                                      2000          1999
                                                  ------------    -----------
Cash flows from operating activities:
Net loss ......................................   $(11,361,180)   $ (1,874,007)
                                                  ------------    ------------
Adjustments to  reconcile  net  income
 to net cash  flows  from  operating
 activities:
 Income from Maine Hydro Projects .............       (279,370)       (459,874)
 Loss from Maine Biomass Projects .............        295,549         666,216
 Loss from MetaSound Systems ..................        717,434         790,661
 Loss (income) from Quantum Conveyor ..........        (79,330)        184,890
 Loss (income) from Santee River
  Rubber Project ..............................        361,042        (209,167)
 Income from Egypt Projects ...................        (66,386)           --
 Loss from Mediterranean Fiber Optic
  Project/GFG .................................         49,924            --
 Income from United Kingdom Landfill
  Projects ....................................     (1,175,012)       (369,873)
 Income from Synergics Hydro ..................       (312,500)           --
 Writedown of investment in
  Mediterranean Fiber Optic Project/GFG .......      1,447,746            --
 Writedown of investment in Santee
  River Rubber Project ........................      8,247,340            --
 Minority interest in loss of
  consolidated subsidiary .....................       (366,879)       (176,670)
 Changes in assets and liabilities:
  (Increase) decrease in due from affiliates ..       (176,853)        558,914
  (Increase) decrease in other current assets .        (29,200)         12,349
  Increase in other assets ....................           --          (123,873)
  Decrease in accounts payable
   and accrued expenses .......................        (23,487)        (19,971)
  (Decrease) increase in due to affiliates ....       (429,659)      1,407,048
                                                  ------------    ------------
     Total adjustments ........................      8,180,359       2,260,650
                                                  ------------    ------------
Net cash (used in) provided by operating
 activities ...................................     (3,180,821)        386,643
                                                  ------------    ------------

Cash flows from investing activities:
 Loans to Maine Biomass Projects ..............           --          (225,000)
 Investment in UK Landfill Projects ...........           --       (16,374,162)
 Investment in MetaSound Systems ..............           --           (53,412)
 Investment in Quantum Conveyor ...............           --           (68,555)
 Investment in GFG/Med Fiber ..................           --        (1,500,000)
 Investments in Egypt Projects ................     (2,200,256)     (2,287,201)
 Investments in Synergics Hydro ...............     (5,057,494)           --
 Investments in Santee River Rubber Project ...       (421,928)           --
 Distributions from Maine Hydro Projects ......        800,000         540,007
 Distributions from Santee River Rubber Project           --           688,110
 Deferred due diligence costs .................           --          (720,520)
                                                  ------------    ------------
Net cash used in investing activities .........     (6,879,678)    (20,000,733)
                                                  ------------    ------------

Cash flows from financing activities:
 Proceeds from shareholders' contributions ....           --           128,250
 Selling commissions and offering costs paid ..           --           (12,150)
 Cash distributions to shareholders ...........     (2,672,565)     (2,955,799)
                                                  ------------    ------------
Net cash used in financing activities .........     (2,672,565)     (2,839,699)
                                                  ------------    ------------

 Net decrease in cash and cash equivalents ....    (12,733,064)    (22,453,789)
 Cash and cash equivalents, beginning of year .     14,759,184      42,832,241
                                                  ------------    ------------
 Cash and cash equivalents, end of period .....   $  2,026,120    $ 20,378,452
                                                  ------------    ------------

                 See accompanying notes to financial statements.


<PAGE>




Ridgewood Electric Power Trust V
Notes to Consolidated Financial Statements (unaudited)

1. General

In the opinion of management,  the accompanying unaudited consolidated financial
statements   contain  all   adjustments   which  consist  of  normal   recurring
adjustments,  necessary for the fair presentation of the results for the interim
periods. Additional footnote disclosure concerning accounting policies and other
matters are  disclosed  in  Ridgewood  Electric  Power  Trust V's (the  "Trust")
consolidated  financial  statements  included in the 1999 Annual  Report on Form
10-K, which should be read in conjunction with these financial statements.

The results of operations for an interim period should not  necessarily be taken
as  indicative  of the results of  operations  that may be expected for a twelve
month period.

2. Writedown of investment in Mediterranean Fiber Optic Project/GFG

In September  1999,  the Trust and The Ridgewood  Power Growth Fund (the "Growth
Fund") made a joint  investment  of  $3,000,000  in Global Fiber Group  ("GFG"),
which was in the process of developing  an  underwater  fiber optic cable in the
Western Mediterranean (the "Mediterranean Fiber Optic Project"). The investment,
which was funded  equally by the Growth Fund and the Trust,  provided  for a 25%
ownership  interest in GFG and the right to invest in projects developed by GFG.
In the first quarter of 2000, the Trust  determined  that GFG would probably not
be able to develop the  Mediterranean  Fiber Optic Project or any other project.
As a result,  the Trust  determined  that it would be  unlikely  to recover  its
investment in GFG. As a result,  the Trust recorded a writedown of $1,447,746 in
the first quarter of 2000 to reduce the estimated  fair value of the  investment
to zero.

3. Writedown of investment in Santee River Rubber Company

As previously  disclosed in the Trust's Annual Reports on Form 10-K and its most
recent  Quarterly  Report  on Form  10-Q,  dated  August  14,  2000,  the  Trust
beneficially  owns a 67%  preferred  membership  interest in Santee River Rubber
Company,  LLC ("Santee  River"),  a South Carolina  limited  liability  company.
Santee River has  constructed  a used tire  recycling  plant located in Berkeley
County,  South Carolina,  financed with $32 million of industrial revenue bonds.
During the third  quarter of 2000,  Ridgewood  Power (on behalf of the Trust and
Trust IV),  Environmental  Processing Services,  Inc. (the manager of the Santee
River  Project)  and the  holders  of the  Project's  industrial  revenue  bonds
attempted to negotiate a change in management  and to refinance the Santee River
Project.  The  negotiations  failed and on October 26, 2000 Santee  River Rubber
Company  filed for Chapter 11 bankruptcy  in the U.S.  District  Court for South
Carolina.  On November 2, 2000, the U.S. Bankruptcy Court ordered that a trustee
in  bankruptcy  be  appointed to manage  Santee  River.  As a result,  the Trust
determined  that it would be unlikely to recover its  investment in Santee River
Rubber Company. As a result, the Trust recorded a writedown of $8,247,340 in the
third  quarter of 2000 to reduce the estimated  fair value of the  investment to
zero.

4.  Synergics, Inc. Acquisition

Beginning in late 1999,  Ridgewood  Power LLC, the Managing  Shareholder  of the
Trust, began negotiations to buy nine existing  hydroelectric  generating plants
from  Synergics,  Inc.  ("Synergics").  In the  course of  negotiations  and due
diligence, Ridgewood Power learned that one of Synergics' lenders had declared a
payment  default  against  Synergics and that the lender had agreed to discharge
the debt at a substantial  discount from the face amount if payment were made by
the end of April 2000.  In order to preserve the benefit of the  lender's  offer
and to allow completion of the acquisition on favorable terms, the Trust and the
Growth Fund, through a joint venture, acquired the debt from the lender on April
28,  2000 for a payment  of $17  million  to the  lender.  The debt  remains  in
default,  but the joint venture is not exercising its remedies against Synergics
or the Synergics subsidiaries pending the proposed acquisition described below.

The joint  venture  intends to acquire the  Synergics  hydroelectric  generation
business  by  forgiving  the $17  million  of  outstanding  debt and  paying  an
additional  $1  million to the  shareholders  of  Synergics  and paying up to an
additional $1.7 million of Synergics' tax liabilities  that might be incurred as
a result  of the  sale of its  assets.  In  addition,  if a  project  lease  for
Synergics' Box Canyon,  California  hydroelectric  plant is extended  beyond the
year 2010, the joint venture will pay the Synergics  shareholders  the lesser of
$500,000  or  one-half  of the  agreed  present  value  derived  from the  lease
extension.  The  structuring  and closing of the acquisition is to be determined
after a review of certain  financial,  contractual  and tax  considerations  and
termination of the Hart-Scott-Rodino Act antitrust waiting period.

Until the acquisition closes, Synergics has agreed to retain all working capital
for the account of the joint  venture and to allow the joint  venture to approve
all operational  decisions and  expenditures.  Synergics is cooperating  closely
with the joint venture in making operational  decisions.  However,  although the
joint  venture  currently   intends  to  acquire  the  Synergics   hydroelectric
generation  business as promptly as possible,  neither the joint venture nor the
Trust and the  Growth  Fund are  obligated  to acquire  Synergics  or any of its
assets. Wayne L. Rogers, the president of Synergics, agreed to vote the stock of
Synergics,  Inc.  beneficially  owned by him  (approximately  69% of the  voting
stock) in favor of a merger or other  corporate  reorganization  as specified by
the Trust and the  Growth  Fund that  materially  complies  with the  provisions
outlined above.

Although the joint venture now owns $17 million of the senior debt of Synergics,
there is  approximately  $11.725  million of debt owed to Fleet Bank,  N.A.  The
Trust and the Growth  Fund are in  discussions  with Fleet Bank  concerning  the
assumption of the Fleet debt in connection with the acquisition.

The Trust  supplied  $5  million  of the  capital  used by the joint  venture to
acquire the debt and the Growth Fund  supplied the  remaining  $12 million.  Any
additional  capital  needed for the  acquisition  will be  supplied to the joint
venture by the  Growth  Fund.  The Trust and the Growth  Fund will own the joint
venture in  proportion  to the  capital  each  supplies  and  neither  will have
preferred rights over the other.

Until  the  joint  venture  acquires  the  hydroelectric   generation  business,
Synergics and the joint venture have agreed that the debt of Synergics will bear
interest  equal  to  the  lesser  of  15% or the  cash  flows  generated  by the
hydroelectric  generation business.  For the two months ended June 30, 2000, the
Trust recorded $125,000 of income related to the debt of Synergics.

5. Summary Results of Operations for Selected Investments

Summary results of operations for the Maine Hydro Projects,  which are accounted
for under the equity method, were as follows:

                                                Nine Months Ended September 30,
                                                  2000                  1999
                                                  ----                  ----
        Total revenue                        $ 3,082,000            $ 3,195,000
        Depreciation and amortization            841,000                829,000
        Net income                               559,000                920,000

Summary  results  of  operations  for the  Maine  Biomass  Projects,  which  are
accounted for under the equity method, were as follows:

                                               Nine Months Ended September 30,
                                                  2000                  1999
                                                  ----                  ----
        Total revenue                         $1,838,000              $ 925,000
        Depreciation and amortization            177,000                136,000
        Net loss                                (591,000)            (1,332,000)

Summary  results of  operations  for the Santee River Rubber  Project,  which is
accounted for under the equity method,  were as follows.  Information for Santee
River  Rubber for 2000 is only  through  June 30,  2000  because  third  quarter
information is not available. See note 2 above.

                                             Nine Months Ended September 30,
                                                 2000                     1999
       Total revenue                    $       601,000    $             ---
       Depreciation and amortization               ---                   ---
       Net loss                              (2,166,000)             (1,080,000)


<PAGE>


Summary  results of  operations  for MetaSound  Systems,  which is accounted for
under the equity method, were as follows:
                                                 Nine Months Ended September 30,
                                                         2000           1999
      Total revenue                           $         825,000    $    456,000
      Net loss                                       (3,510,000)     (1,987,000)

Summary  results of operations for the Egypt  Projects,  which are accounted for
under the equity method, were as follows:

                                                Nine Months Ended September 30,
                                             2000                       1999
      Total revenue                       $ 1,169,000               $       ---
      Net income                              179,000                       ---


Summary  results of  operations  for the UK  Landfill  Gas  Projects,  which are
accounted for under the equity method, were as follows:

                                                Nine Months Ended September 30,
                                                    2000                 1999
                                                    ----                 ----
     Total revenue                          $ 4,172,000              $1,230,456
     Net income                               1,175,000                 369,873


<PAGE>



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

Dollar amounts in this discussion are generally rounded to the nearest $1,000.

Introduction

The consolidated financial statements include only the accounts of the Trust and
its majority owned subsidiary,  Ridgewood WaterPure Corporation.  The Trust uses
the equity method of accounting for its investments in the Maine Hydro Projects,
the  Maine  Biomass  Projects,  the  United  Kingdom  Landfill  Projects,  Egypt
Projects,  Mediterranean  Fiber  Optic  Project/GFG,  the  Santee  River  Rubber
Project, Quantum Conveyors and MetaSound Systems, which are owned 50% or less by
the Trust.

Results of Operations

In the third  quarter  of 2000,  the Trust had total  revenue  of  $101,000,  an
increase of $303,000 from a loss of $202,000 in the same period in 1999. For the
first nine months of 2000, the Trust had total revenue of $850,000,  an increase
of $141,000 from total revenue of $709,000 in the same period in 1999.

Interest  income declined by $179,000 from $217,000 in the third quarter of 1999
to $39,000  in the third  quarter of 2000 due to lower  average  cash  balances.
Interest  income also  declined by $949,000  from  $1,309,000  in the first nine
months of 1999 to $361,000  in the same period of 2000 due to the lower  average
cash balances.

Equity income from the Maine Hydro Projects for the first nine months of 2000 of
$279,000  was lower  compared to $460,000 in the same period of 1999,  a loss in
the third  quarter of 2000 of $382,000 was  substantially  higher than the third
quarter 1999 loss of $195,000. Decreased overall revenues and higher maintenance
and labor costs attributed to the shortfall.

The  equity  loss from the  shut-down  Maine  Biomass  Projects  decreased  from
$256,000  in the third  quarter of 1999  ($666,000  for the first nine months of
1999) to  $125,000  in the third  quarter of 2000  ($295,000  for the first nine
months of 2000) due to higher energy revenues and reduced maintenance costs.

The Trust losses from its equity  interest in the Santee River Rubber Project in
2000 ($361,000 for the first nine months and zero in the third quarter) compared
to income in 1999  ($130,000 for the first nine months and $209,000 in the third
quarter)  because  the  project was under  construction  in 1999,  but was fully
staffed and undergoing  testing in 2000. As discussed in Note 3 to the September
30, 2000 financial statements,  the Trust recorded a $8,247,000 writedown of its
investment in the Santee River Rubber Company.

The Trust  recorded  losses  from its equity  interest in  MetaSound  Systems of
$151,000  in the third  quarter  ($717,000  in the first  nine  months)  of 2000
compared to $363,000 in the third quarter ($791,000 in the first nine months) of
1999.  The loss is a result of the  increased  operating  expenses  incurred  by
MetaSound.

The Trust  recorded  income  from its equity  interest in Quantum  Conveyors  of
$174,000  in the third  quarter  ($79,000  in the  first  nine  months)  of 2000
compared to a $55,000 loss in the third quarter ($185,000 loss in the first nine
months)  of 1999.  The  increase  is a result of Quantum  Conveyors'  program of
reducing expenditures due to its poor financial condition.

The Trust  recorded  income of $355,000 and  $1,175,000 in the third quarter and
first  nine  months  of 2000  respectively,  from the  United  Kingdom  Landfill
Projects.  The Trust  acquired the projects at the end of the second  quarter of
1999 and third quarter 1999 income was $369,000.

The Trust  recorded  income of $5,000 and $66,000 in the third quarter and first
nine months of 2000 respectively, equal to its share of income from the Egyptian
Projects.  The first Egyptian  Projects began  operation in the first quarter of
2000.

In the third  quarter of 2000,  the Trust  recorded  income of $188,000 from its
Synergics,  Inc. investment which was acquired in April 2000. The acquisition of
the Synergics  investment is discussed in Note 3 to the June 30, 2000  financial
statements

As discussed in Note 2 to the September 30, 2000 financial statements, the Trust
recorded a $1,447,746  writedown of its investment in Mediterranean  Fiber Optic
Project/GFG in the first quarter of 2000.

In the third quarter of 2000,  the most  significant  expense was the management
fee of  $583,000  ($1,674,000  in the  first  nine  months  of  2000),  which is
comparable to the $594,000  charged in the third quarter of 1999  ($1,857,000 in
the first nine months of 1999).

In the  third  quarter  of 2000,  the  Trust's  Ridgewood  WaterPure  subsidiary
incurred  $171,000  ($834,000  in the first nine months of 2000) of research and
development costs related to its water distillation  technology, a decrease over
the  $208,000  incurred  in the  third  quarter  of 1999 (an  increase  from the
$563,000  in the first nine  months of 1999).  The nine month  increase  in cost
reflects  the more  intensive  development  programs  at  WaterPure,  which  was
acquired in December 1998.

Liquidity and Capital Resources

In 1997,  the Trust and Fleet Bank,  N.A. (the "Bank")  entered into a revolving
line of credit agreement,  whereby the Bank provides a three year committed line
of credit  facility of $1,150,000.  Outstanding  borrowings bear interest at the
Bank's  prime rate or, at the  Trust's  choice,  at LIBOR plus 2.5%.  The credit
agreement  requires  the Trust to maintain a ratio of total debt to tangible net
worth of no more than 1 to 1 and a minimum debt service  coverage  ratio of 2 to
1. The credit facility was obtained in order to allow the Trust to operate using
a minimum amount of cash,  maximize the amount invested in Projects and maximize
cash distributions to shareholders. There have been no borrowings under the line
of credit in 2000.

Other  than  investments  of  available  cash  in  power  generation   Projects,
obligations of the Trust are generally  limited to payment of Project  operating
expenses, payment of a management fee to the Managing Shareholder,  payments for
certain  accounting  and legal  services to third persons and  distributions  to
shareholders  of  available   operating  cash  flow  generated  by  the  Trust's
investments.  The Trust's  policy is to distribute as much cash as is prudent to
shareholders.  Accordingly,  the Trust has not  found it  necessary  to retain a
material amount of working  capital.  The amount of working capital  retained is
further reduced by the availability of the line of credit facility.

The Trust anticipates that, during 2000 and 2001, its cash flow from operations,
unexpended offering proceeds,  cash held at unconsolidated  subsidiaries and the
line of credit facility will be adequate to fund its obligations and the current
level of  distributions.  The Trust  expects  that its  reported  cash flow from
operations and investments will be positive in the fourth quarter of 2000 and in
2001.

Forward-looking statement advisory

This Quarterly  Report on Form 10-Q, as with some other  statements  made by the
Trust from time to time, contains forward-looking  statements.  These statements
discuss business trends and other matters relating to the Trust's future results
and the  business  climate and are found,  among other  places,  in the notes to
financial  statements  and at  Part  I,  Item  2,  Management's  Discussion  and
Analysis.  In  order  to  make  these  statements,  the  Trust  has  had to make
assumptions  as to the future.  It has also had to make  estimates in some cases
about events that have already  happened,  and to rely on data that may be found
to be inaccurate at a later time. Because these  forward-looking  statements are
based on assumptions,  estimates and changeable data, and because any attempt to
predict the future is subject to other errors,  what happens to the Trust in the
future may be materially different from the Trust's statements here.

The Trust  therefore warns readers of this document that they should not rely on
these  forward-looking  statements  without  considering  all of the things that
could make them  inaccurate.  The Trust's other filings with the  Securities and
Exchange  Commission and its Confidential  Memorandum discuss many (but not all)
of  the  risks  and  uncertainties  that  might  affect  these   forward-looking
statements.

Some of these are changes in political and economic conditions, federal or state
regulatory  structures,  government  taxation,  spending and budgetary policies,
government  mandates,  demand for electricity and thermal energy, the ability of
customers  to pay for  energy  received,  supplies  of fuel and prices of fuels,
operational status of plant,  mechanical  breakdowns,  availability of labor and
the  willingness  of  electric  utilities  to perform  existing  power  purchase
agreements in good faith.  Some of the  cautionary  factors that readers  should
consider are described in the Trust's most recent Annual Report on Form 10-K.

By making these statements now, the Trust is not making any commitment to revise
these forward-looking statements to reflect events that happen after the date of
this document or to reflect unanticipated future events.



<PAGE>


                           PART II - OTHER INFORMATION

     Item 1. Legal Proceedings

     Indeck  Maine On June 2, 2000,  Indeck  Maine  Energy LLC, the owner of the
     Maine  Biomass  Projects,  brought a complaint  before the  Federal  Energy
     Regulatory  Commission (Docket No.  EL00-80-000)  requesting FERC to remove
     bid restrictions  imposed on Indeck by ISO-New England,  Inc., the operator
     of the New England Power Pool. Those restrictions capped the price that the
     ISO would pay for Indeck's electric power output at approximately  $810 per
     megawatt-hour,  substantially  less than  Indeck's own bids.  The complaint
     also challenged the ISO's authority to impose those  restrictions.  On July
     26, 2000 FERC  ordered the ISO "to remove the bid  restrictions  previously
     imposed on Indeck."  FERC found that the ISO had not  provided any evidence
     to support its conclusion  that the Indeck power bids  materially  affected
     the markets.  That  conclusion  was a necessary  condition for imposing the
     restrictions.

     Because of their cost structure,  the Maine Biomass Projects  currently run
     only during power  shortages in the summer and  occasionally at other times
     when transmission constraints or local problems require their use. Thus the
     lifting of the bid restrictions will not result in revenue increases unless
     a power shortage or similar situation occurs in the future.  The Trust does
     not  expect any such  situation  to occur  during  the rest of 2000,
     although the weather in particular is unpredictable.

     The FERC order does not  expressly  lift the bid  restrictions  for earlier
     dates in 2000 and certain dates in 1999 on which the Projects sold power to
     the ISO and there is some  language  in the order that could be read to say
     that FERC did not invalidate the prior bid restrictions. The Trust believes
     that the order  clearly  rejected the reasons  given by the ISO for capping
     Indeck's  prices  on most of those  dates  and also  discredited  the ISO's
     decision to impose caps retroactively for the 1999 dates. The Trust intends
     to bring additional complaints at FERC to clarify the order, to rescind the
     price caps for those  prior dates on which the  Projects  sold power and to
     recover  additional  compensation  for those sales based on the prices that
     Indeck had  submitted.  Until such  proceedings  are resolved  favorably to
     Indeck or unless a settlement with the ISO results,  the Trust will receive
     no additional revenue from the ISO for those prior dates.

     Indeck filed a Motion for  Clarification,  or  Alternatively,  Rehearing
     before FERC,  requesting that FERC confirm that the ISO's May 2000 price
     caps were void and that Indeck is entitled to payment for those days.

     In  addition,  the ISO has  escrowed  approximately  $287,000  of  Indeck's
     revenues,  based on the ISO's  assertion that an overpayment was made for a
     price-capped  event  in  October  1999.  The  Trust  expects  to  bring  an
     additional  proceeding  in the  appropriate  forum to recover the  escrowed
     amount and to invalidate the caps.

     Indeck took action to recover  payment for its  operations at ISO-NE's
     request during October 1999 which were not addressed in the FERC order.  On
     October 24, 2000,  Indeck  filed a complaint  in the Superior  Court of the
     State of Delaware against the IS0-New England, Inc. to recover from the ISO
     up to $27 million for electric power supplied to ISO-NE in October 1999 and
     for other costs incurred. No answer has yet been filed.

     Santee River Rubber Company
     As disclosed at Note 2 to the Consolidated Financial Statements,  a Chapter
     11 voluntary bankruptcy  proceeding against Santee River Rubber Company was
     brought in the U.S.  Bankruptcy Court for the District of South Carolina at
     Charleston on October 25, 2000. Currently, only Santee River Rubber Company
     is a party to the proceedings. Santee River Rubber Company is insolvent and
     requires   reorganization  and  additional  capital  if  it  is  to  resume
     operation.


<PAGE>

     Item 6. Exhibits and Reports on Form 8-K

(a)      Exhibits
         ---------

                  None

(b)       Reports on Form 8-K
         1) A  current  report  on Form 8-K was filed  with the  Securities  and
         Exchange  Commission on October 31, 2000 in connection  with the Santee
         River Rubber Company  ("Santee  River") filing a petition in bankruptcy
         in the  United  States  Bankruptcy  Court  for the  District  of  South
         Carolina on October 26, 2000.




<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.

                           RIDGEWOOD ELECTRIC POWER TRUST V
                                       Registrant

November 13, 2000                By /s/ Christopher I. Naunton
Date                                Christopher I. Naunton
                                    Vice President and
                                    Chief Financial Officer
                                    (signing on behalf of the
                                    Registrant and as
                                    principal financial
                                    officer)