UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

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) June 28, 1999


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             file number)         Identification Number)
 of incorporation)

    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.

     On June 4, 1999, Ridgewood Electric Power Trust V ("Ridgewood Power V") and
The  Ridgewood  Power  Growth Fund (the  "Growth  Fund"),  a similar  investment
program managed by Ridgewood  Power LLC (the Managing  Shareholder of the Trust)
entered into agreements  with the  stockholders  of Combined  Landfill  Projects
Limited ("CLP"), of London, England, for a $13.6 million purchase of 100% of the
equity interest in four operating landfill gas power plants and one plant in the
late  stages of  construction,  as well as the rights to develop  and  construct
another 20 landfill gas plants in Great  Britain.  The transfer  closed June 28,
1999.  The  estimated  cost  of the  package  of  completed  plants  and  the 20
developmental  sites,  if all the  developmental  plants are built and Ridgewood
U.K.  elects to acquire  them,  is $36 to $38  million.  Ridgewood  Power V will
supply the first $19 million of the purchase price and developmental  equity and
the Growth Fund will supply the remainder of the  developmental  equity.  To the
extent that the Growth  Fund  supplies  capital,  it will  receive an  undivided
interest  in  the  entire  package  of  operating  and  developmental  projects.
Ridgewood Power V and the Growth Fund have organized  Ridgewood U.K. Limited, an
English limited company  ("Ridgewood  U.K.") to act as a holding company for the
British projects.

The   following   five  plants  are  currently  in  operation  or  about  to  be
commissioned:

                                      Current Price per
 Project                 Location         kWh (US$)       Installed capacity
- -----------------   ------------------  --------------  ---------------------
Chelson Meadow      Devon, England         4.57            2.85 megawatts
United Mines        Cornwall, England      5.26            2.85 megawatts
Whinney Hill        Lancashire, England    5.28            3.10 megawatts
Bellhouse           Essex, England         5.28            2.85 megawatts
Summerston (to be   Glasgow, Scotland      5.26            2.85 megawatts
commissioned late
August 1999)
Total capacity                                             14.5 megawatts

Each English  plant has a 15-year  long term power  purchase  contract  with the
Non-Fossil  Purchasing  Agency  Limited,  a  quasi-autonomous   non-governmental
organization that purchases  electricity generated by renewable sources (such as
landfill gas power  plants) on behalf of all English  utilities in order to meet
British  environmental  protection  goals.  The  Summerston  plant has a similar
15-year contract under the Scottish Renewables Order with Scottish utilties. The
electricity  prices  will  be  increased  annually  by a  factor  equal  to  any
percentage increase in the U.K. Retail Price Index.

The five projects  named above (which  include both the  electricity  generating
plants  and  the gas  collection  and  cleaning  systems)  have  been or will be
financed  with a total of $16.6  million of long-term  bank debt, in addition to
the equity interest  purchased by Ridgewood Power V. The loans are  non-recourse
against   Ridgewood  U.K.,   Ridgewood  Power  V,  the  Growth  Fund  and  their
intermediate  subsidiaries.  Ridgewood  Power V and the  Growth  Fund  have also
organized   Ridgewood  CLP   Management   Limited,   an  English   company  ("RW
Management"),  which will be  responsible  for operating the five plants and any
additional  plants that are developed.  The principal  stockholders of CLPS will
own non-voting  stock in RW Management.  RW Management will manage the plants at
cost and will not be intended to earn any profit.  CLP Services  Limited,  a new
company ("CLPS")  organized by the stockholders of CLP, will provide  day-to-day
services under  subcontract  to RW  Management.  CLPS will be paid a flat fee of
approximately  1.2 cents per  kilowatt-hour  for those  services  (adjusted  for
increases in the Retail Price Index) and will be eligible for bonus  payments if
a project's actual annual electricity  output exceeds 90% of its capacity.  CLPS
will also pay approximately $88,000 per year (also adjusted for increases in the
Retail Price Index) for management services for the various companies owning the
five  existing  projects.  The  gas  extraction  and  cleaning  systems  for the
landfills  will be operated by CLPS for no additional  cost.  RW Management  may
terminate  the  subcontract  with CLPS if at the end of any year the projects in
the  aggregate  have not produced at least 90% of their  capacity  (adjusted for
loss of time for scheduled downtime, catastrophic failures not caused by CLPS or
failures to receive  landfill gas not caused by CLPS),  or at any time if it can
be shown that it is physically  impossible for the plants as a whole to meet the
90% standard for the current year.

CLPS  will  proceed  to  develop  as many of the 20  remaining  sites  as may be
feasible and will bear the developmental  costs itself.  Its principal source of
funds for doing so will be  approximately 4 million pounds sterling  contributed
by its stockholders  from the purchase price paid by Ridgewood U.K. for the five
plants described  above. As each remaining plant is completed and  commissioned,
Ridgewood  U.K  expects  that  the  bank  will  provide  long-term  finance  for
approximately 55% of the plant's reasonable cost,  although the bank has not yet
committed to do so. If full bank  financing  is obtained for a plant,  CLPS will
sell the equity  interest in the plant to Ridgewood U.K.  Ridgewood Power V will
provide the first $5.4 million of the additional  equity  capital  necessary for
Ridgewood U.K to buy the plants.  That $5.4 million should be enough to purchase
3 to 4 additional projects.  If additional projects are successfully  completed,
the additional  money will be provided by the Growth Fund through  contributions
of capital to  Ridgewood  U.K.  By doing  that,  the Growth  Fund will obtain an
economic interest in each of Ridgewood U.K.'s plants  proportionate to the share
of Ridgewood U.K.'s total capital that it contributes. Ridgewood U.K. expects to
contract with RW Management to operate the additional plants using CLPS on terms
similar to those for the five existing plants.

The purchase price for the first five plants,  9,426,000  pounds  sterling,  was
determined  by  arms-length  bargaining  and was paid from proceeds of Ridgewood
Power V's prior private  placement  offering.  The price reflected the estimated
value of the cash flow from the five plants,  assuming  production meets the 90%
standard,  plus  estimated  adjustments  for  the  current  assets  acquired  by
Ridgewood  U.K,  interest  at 5.25% per year on those  amounts  from an  assumed
purchase date of April 1, 1999, and retention  amounts held against  amounts due
for completion of the Chelson Meadow and Summerston  plants.  The purchase price
will be adjusted to reflect actual results for the April - June 1999 period.

Ridgewood  Power V funded its  investment in Ridgewood U.K. from proceeds of its
completed offering of Investor Shares.

Item 7.  Financial Statements, Pro Forma Financial Information
and Exhibits.

         We have not  included  audited  financial  statements  for the acquired
businesses in this filing because none of the significant  subsidiary  tests are
met at the 20%  level  or  higher.  We are not  providing  pro  forma  financial
information because there were no significant operations during 1998.

         (c)  Exhibits.



Exhibit No.       Item

   2.A Agreement for the sale and purchase of the entire issued share capital of
Combined Landfill Projects Limited,  by and among D.H.  Fitzherbert & others and
Ridgewood U.K. Limited. To be filed by amendment.

   2.B Operations,  Repair and Maintenance Agreement,  by and among CLP Services
Limited,  Ridgewood CLP Management Limited and Ridgewood UK Limited. To be filed
by amendment.

   2.C Employee  Transfer  Agreement,  by and between CLP  Services  Limited and
Ridgewood CLP Management Limited. To be filed by amendment.

   2.D Summerston Development Agreement, by and among Summerston Energy Limited,
Ridgewood UK Limited and certain vendors. To be filed by amendment.

   2.E Option Agreement,  relating to NFFO 5 Projects, by and among Ridgewood UK
Limited and Guinness Mahon Group Limited and others. To be filed by amendment.

   10.J  Articles  of  Association  of  Ridgewood  UK  Limited.  To be  filed by
amendment.

     10.K Articles of  Association of Ridgewood CLP  Management  Limited.  To be
filed by amendment.

   10.L Shareholders' Agreement relating to Ridgewood CLP Management Limited, by
and among  Landgas  Energy  Limited,  Ridgewood  UK Limited  and  Ridgewood  CLP
Management Limited.

Exhibits and schedules to these  exhibits are omitted,  and lists of the omitted
documents  are  found in their  tables of  contents.  The  Registrant  agrees to
furnish  supplementally  a copy of any  omitted  exhibit  or  schedule  to these
exhibits to the Commission upon request.

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 hereunto duly authorized.


                         RIDGEWOOD ELECTRIC POWER TRUST V


                         By: /s/ Martin V. Quinn
                                 Martin V. Quinn, Senior Vice
                                 President and Chief Financial
                                 Officer