FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 2054

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

                  For the quarterly period ended March 31, 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

                                 March 31, 2000



















<PAGE>


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

                                               March 31, 2000     December 31,
Assets:                                           (unaudited)        1999
                                                 ------------     ----------
Cash and cash equivalents ....................   $ 11,994,060    $ 14,759,184
Due from affiliates ..........................        576,934         675,185
Other current assets .........................        371,262         404,351
                                                 ------------     ----------
         Total current assets ................     12,942,256      15,838,720

Investments:
    Maine Hydro Projects .....................      5,919,022       5,663,505
    Maine Biomass Projects ...................      5,755,455       5,825,271
    MetaSound Systems ........................        539,600         921,163
    Quantum Conveyor .........................      2,812,421       2,810,410
    Santee River Rubber Project ..............      8,022,760       8,186,456
    Egypt Projects ...........................      5,552,540       4,736,093
    Mediterranean Fiber Optic Project/GFG ....           --         1,497,670
    United Kingdom Landfill Projects .........     17,307,474      16,916,309

Deferred due diligence costs .................         10,951            --
                                                 ------------     ----------
         Total assets ........................   $ 58,862,479    $ 62,395,597
                                                 ------------     ----------

Liabilities and shareholders' equity:

Liabilities:
Accounts payable and accrued expenses ........   $     73,130    $    174,857
Due to affiliates ............................        279,009         449,178
                                                 ------------     ----------
    Total current liabilities ................        352,139         624,035
                                                 ------------     ----------

Minority interest ............................      1,219,746       1,337,769

Commitments and contingencies

Shareholders' equity:
 Shareholders' equity (932.8875 investor
 shares issued and outstanding)                    57,532,654      60,644,421
 Subscription receivable .....................        (23,000)        (23,000)
                                                 ------------     ----------
   Shareholders' equity, net .................     57,509,654      60,621,421
 Managing shareholder's accumulated deficit (1
  management share issued and outstanding)           (219,060)       (187,628)
                                                 ------------     ----------
   Total shareholders' equity ................     57,290,594      60,433,793
                                                 ------------     ----------
   Total liabilities and shareholders' equity    $ 58,862,479    $ 62,395,597
                                                 ------------     ----------


                 See accompanying notes to financial statements.


<PAGE>



Ridgewood Electric Power Trust V
Consolidated Statement of Operations (unaudited)
--------------------------------------------------------------------------------
                                                      Three Months Ended
                                              March 31, 2000     March 31, 1999
                                                   ----------     ----------
Revenues:
   Interest income ............................   $    95,216    $   614,026
   Income from Maine Hydro Projects ...........       255,517        537,135
   Loss from Maine Biomass Projects ...........       (69,816)      (168,403)
   Loss from MetaSound Systems ................      (381,563)      (248,639)
   Income (loss) from Quantum Conveyor ........         2,011        (10,709)
   (Loss) income from Santee River Rubber
    Project ...................................      (163,696)         4,034
   Loss from Egypt Projects ...................       (49,440)          --
   Loss from Mediterranean Fiber Optic
    Project/GFG ...............................       (49,924)          --
   Income from United Kingdom Landfill Projects       391,165           --
                                                   ----------     ----------
           Total revenue ......................        29,470        727,444
                                                   ----------     ----------
Expenses:
  Investment fee ..............................          --            6,500
  Management fee ..............................       508,189        601,202
  Accounting and legal fees ...................        37,424         20,039
  Research and development ....................       297,377        201,332
  Miscellaneous ...............................        11,586         53,114
  Writedown of investment in Mediterranean
   Fiber Optic/GFG ............................     1,447,746            --
                                                   ----------     ----------
          Total expenses ......................     2,302,322        882,187
                                                   ----------     ----------

           Loss from operations ...............    (2,272,852)      (154,743)

  Minority interest in loss (income) of
   consolidated subsidiary                            118,023        (1,704)
                                                   ----------     ----------
           Net loss ...........................   $(2,154,829)   $  (156,447)
                                                   ----------     ----------




                 See accompanying notes to financial statements.

<PAGE>


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 ..       (978,486)         --        (9,884)       (988,370)

Net loss for the year     (2,133,281)         --       (21,548)     (2,154,829)
                        ------------   -----------  ----------    ------------
Shareholders' equity,
 March 31, 2000 .....   $ 57,532,654    $(23,000)    $(219,060)   $ 57,290,594
                        ------------   -----------  ----------    ------------







                 See accompanying notes to financial statements.


<PAGE>

Ridgewood Electric Power Trust V
Consolidated Statement of Cash Flows (unaudited)
--------------------------------------------------------------------------------
                                                          Three Months Ended
                                                   March 31,         March 31,
                                                     2000             1999
                                                  -----------      ----------
Cash flows from operating activities:
 Net loss ....................................   $ (2,154,829)   $   (156,447)
                                                  -----------      ----------
 Adjustments to reconcile net income to ne
  cash flows from operating activities
  Income from Maine Hydro Projects ...........       (255,517)       (537,135)
  Loss from Maine Biomass Projects ...........         69,816         168,403
  Loss from MetaSound Systems ................        381,563         248,639
  (Income) loss from Quantum Conveyor ........         (2,011)         10,709
  Loss (income) from Santee River Rubber
   Project ...................................        163,696          (4,034)
  Loss from Egypt Projects ...................         49,440            --
  Loss from Mediterranean Fiber Optic
   Project/GFG ...............................         49,924            --
  Income from United Kingdom Landfill Projects       (391,165)           --
  Minority interest in (loss) income of
   consolidated subsidiary ...................       (118,023)          1,704
  Writedown of investment in Mediterranean
   Fiber Optic/GFG ...........................      1,447,746            --
  Changes in assets and liabilities:
   Decrease (increase) in other current assets         33,089         (89,484)
   (Decrease) increase in accounts payable and
    accrued expenses                                 (101,727)          2,282
   Decrease in due to affiliate, net .........        (71,918)       (607,356)
                                                  -----------      ----------
   Total adjustments .........................      1,254,913        (806,272)
                                                  -----------      ----------
   Net cash used in operating activities .....       (899,916)       (962,719)
                                                  -----------      ----------

Cash flows from investing activities:
 Loans to Maine Biomass Projects .............           --          (100,250)
 Investment in MetaSound Systems .............           --            (6,151)
 Investment in Egypt Projects ................       (865,887)           --
 Distributions from Santee River Rubber ......           --           214,254
 Deferred due diligence costs ................        (10,951)       (262,653)
                                                  -----------      ----------
   Net cash used in investing activities .....       (876,838)       (154,800)
                                                  -----------      ----------
Cash flows from financing activities:
 Proceeds from shareholders' contributions ...           --           130,500
 Selling commissions and offering costs paid .           --           (35,700)
 Cash distributions to shareholders ..........       (988,370)       (997,319)
                                                  -----------      ----------
   Net cash provided by financing activities .       (988,370)       (902,519)
                                                  -----------      ----------

Net decrease in cash and cash equivalents ....     (2,765,124)     (2,020,038)

Cash and cash equivalents, beginning of year .     14,759,184      42,832,241
                                                  -----------      ----------
Cash and cash equivalents, end of period .....   $ 11,994,060    $ 40,812,203
                                                  -----------      ----------

                 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.  Subsequent Event - 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. 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,  Inc., 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.

4.       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:

                            Three Months Ended March 31,
                                    2000        1999
Total revenue ...............   $1,346,000   $1,861,000
Depreciation and amortization      280,000      274,000
Net income ..................      511,000    1,074,000

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

                             Three Months Ended March 31,
                                   2000         1999
Total revenue ...............   $ 582,000    $ 166,000
Depreciation and amortization      13,000       13,000
Net loss ....................    (140,000)    (348,000)

Summary  results of  operations  for the Santee River Rubber  project,  which is
accounted for under the equity method, were as follows:

                               Three Months Ended March 31,
                                    2000            1999
Total revenue ...............   $   242,000           --
Depreciation and amortization          --             --
Net loss ....................    (1,387,000)      (494,000)

Summary  results of  operations  for MetaSound  Systems,  which is accounted for
under the equity method, were as follows:

                  Three Months Ended March 31,
                        2000         1999
Total revenue ..   $   263,000        100,000
Net loss .......    (1,387,000)    (1,041,000)

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

                               Three Months Ended March 31,
                                   2000
Total revenue ...............   $   --
Depreciation and amortization       --
Net loss ....................    (97,000)

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

                        Three Months Ended March 31,
                                    2000
Total revenue ...............   $1,531,000
Depreciation and amortization      387,000
Net income ..................      391,000


<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

Quarter ended March 31, 2000 compared to quarter ended March 31, 1999

In the first quarter of 2000, the Trust had total revenue of $29,000,  a decline
of $698,000 from total revenue of $727,000 in the same period in 1999.  Interest
income  declined  by  $519,000  from  $614,000  in the first  quarter of 1999 to
$95,000 in the first quarter of 2000 due to lower average cash balances.  Equity
income from the Maine Hydro  Projects  decreased  $281,000  from $537,000 in the
first  quarter  of 1999 to  $256,000  in the  same  period  in 2000 due to lower
production because the above-average  river flows in 1999 did not recur in 2000.
The  equity  loss from the  shut-down  Maine  Biomass  Projects  decreased  from
$168,000 in the first  quarter of 1999 to $70,000 in the same period in 2000 due
to cost  reductions and sales of installed  capacity at the plants.  The Trust's
share of losses from MetaSound Systems increased due to the increased  marketing
expenditures  by  MetaSound  as it attempts to rapidly  grow its  business.  The
equity interest in the Santee River Rubber project changed from income of $4,000
in the first  quarter of 1999 to a loss of $164,000 in the first quarter of 2000
due to the cost of staffing the project for the current testing and modification
stage of the project. The Trust also recorded income of $391,000 from its United
Kingdom Landfill Projects which were acquired in June 1999.

As discussed  in Note 2 to the March 31, 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 first quarter of 2000,  the most  significant  expense was the management
fee of $508,000, which is less than the $601,000 charged in the first quarter of
1999.

In the  first  quarter  of 2000,  the  Trust's  Ridgewood  WaterPure  subsidiary
incurred  $297,000  of  research  and  development  costs  related  to its water
distillation  technology,  an increase of $96,000 from the $201,000  incurred in
the first quarter of 1999.

Quarter ended March 31, 1999 compared to quarter ended March 31, 1998.

In the first quarter of 1999, the Trust had total revenue of $727,000, a decline
of $157,000 from total revenue of $884,000 in the same period in 1998.  Interest
income  declined  by  $211,000  from  $825,000  in the first  quarter of 1998 to
$614,000 in the first quarter of 1999 due to lower average cash balances. Equity
income from the Maine Hydro  Projects  increased  $210,000  from $327,000 in the
first  quarter  of 1998 to  $537,000  in the same  period  in 1999 due to higher
production  because of  above-average  river  flows.  The  equity  loss from the
shut-down Maine Biomass Projects decreased from $268,000 in the first quarter of
1998 to $168,000 in the same period in 1999 due to cost reductions and installed
electric  capacity at the plants.  The Trust  recorded a loss of $249,000 in the
first  quarter  of 1999  equal to its  share of  losses  incurred  at  MetaSound
Systems.  The Trust  acquired a minority  interest  in that  company in December
1998.

The investment fee declined from $261,000 in the first quarter of 1998 to $7,000
in the first quarter of 1999 as a result of the closing of the Trust's  offering
in April 1998. In the first quarter of 1999,  the most  significant  expense was
the management fee of $601,000 (2.5% annually of capital  contributions),  which
began to be charged at the  termination of the offering in April 1998.  This fee
supersedes  reimbursements for project management  services (computed at cost or
the  allocable  amount of certain  overhead  expenses)  provided by the Managing
Shareholder, which totaled $138,000 in the first quarter of 1998.

In the  first  quarter  of 1999,  the  Trust's  Ridgewood  WaterPure  subsidiary
incurred  $201,000  of  research  and  development  costs  related  to its water
distillation technology.


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.

As disclosed in the Trust's  Annual  Report on Form 10-K for the year 1999,  the
Santee  River  Project  has   experienced   material   design  and   performance
inadequacies that will require additional sequential  alterations and additional
work to be paid for by the  Contractor.  The  Contractor  is  continuing to make
repairs and  modifications at its own cost, but the Project requires  additional
capital in order for it to remain open and available to the  Contractor for this
work. The Trust and Environmental  Processing Services, Inc., the developer, are
discussing  potential  financing  alternatives but no agreement has been reached
and there is no  assurance  that  agreement  will be reached  before the Project
exhausts its working capital.

The Contractor is currently  defraying debt service on the construction debt for
the Project and is  obligated  to do so until  August 9, 2000,  when  letters of
credit securing the debt will become available

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,  its cash  flow  from  operations,
unexpended  offering  proceeds and line of credit  facility  will be adequate to
fund its obligations.

Forward-looking statement advisory

This Quarterly  Report on Form 10-Q, as with some other  statements  made by the
Trust  from  time to time,  has  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

None.


<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

May 15, 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)