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) April 30, 2004

                        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 No.)
              organization)

1314 King Street, Wilmington, Delaware  19801
---------------------------------------------
(Address of principal executive offices)  (Zip Code)

Registrant's telephone number, including area code:  (302) 888-7444


Item 5.  Other Events

Ridgewood  Electric  Power Trust V (the "Trust")  owns a 50% equity  interest in
Ridgewood Maine Hydro Partners,  L.P.  ("Ridgewood Maine Hydro"). On January 28,
2004,  Ridgewood Maine Hydro filed a complaint against CHI Operations,  Inc. and
certain  of  its  officers,   employees   and   affiliates   (collectively   the
"Defendants") in the Superior Court of Kennebec County,  Maine.  Ridgewood Maine
Hydro was seeking relief from the court related to a long-term fraudulent scheme
perpetrated by the Defendants related to charges under an Operation, Maintenance
and Administration Agreement (the "OM&A Agreement") dated December 23, 1996.

On April  30,  2004,  Ridgewood  Maine  Hydro  and the  Defendants  agreed  to a
settlement of the dispute. As a result of the settlement, (a) the OM&A Agreement
was terminated on April 30, 2004 without  further  obligation or liability,  (b)
Defendants  paid $500,000 to Ridgewood  Maine Hydro,  and (c) invoices  totaling
approximately $500,000 due from Ridgewood Maine Hydro to Defendants for services
rendered under the OM&A Agreement were cancelled.

On April 30, 2004, Ridgewood Power Management LLC ("Ridgewood  Management"),  an
affiliate of the Managing Shareholder of the Trust, began operating the projects
under an operating  agreement  with Ridgewood  Maine Hydro.  Under the operating
agreement,  Ridgewood  Management  will charge the Ridgewood  Maine Hydro at its
cost for these services and for the allocable amount of certain overhead items.



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:  May 3, 2004            By /s/ Christopher I. Naunton
                                     Christopher I. Naunton,
                                     Vice President and
                                     Chief Financial Officer