SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.

                               FORM 8-K

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

       Date of report (Date of earliest event reported) November 22, 2002

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

  Delaware                   0-24143                   22-3437351
(State or other            (Commission               (IRS Employer
jurisdiction of             File Number)              Identification
organization)                                                  No.)

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

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



Item 2. Acquisition or Disposition of Assets

Beginning in late 1999,  the Trust and The Ridgewood  Power Growth Fund ("Growth
Fund")  began  negotiations  with  Synergics,  Inc.  ("Synergics")  to buy  nine
existing  hydroelectric  generating  plants (the "Synergics  Projects").  In the
course of negotiations and due diligence,  the Trust and the Growth Fund 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 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.  The Trust and the Growth Fund own the joint  venture in proportion
to the capital  each  supplied and neither  will have preferred  rights over the
other.

On November 22, 2002, through another joint venture owned in the same proportion
as the joint venture that  acquired the debt of Synergics,  the Trust and Growth
Fund  acquired  100%  of  the  outstanding   stock  of  Synergics.   The  former
shareholders  of Synergics  Inc.  received 100% of the  outstanding  shares of a
subsidiary  of  Synergics  in exchange for selling the stock of Synergics to the
Trust and Growth Fund.


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.

                                    RIDGEWOOD ELECTRIC POWER TRUST V


Date:  November 27, 2002           By /s/ Christopher I. Naunton
                                      Christopher I. Naunton,
                                      Vice President
                                      and Chief Financial Officer