Mike Richter and Enhanced Capital Group announced the formation of Advanced Generation & Efficiency, a joint venture to finance, construct, own and operate distributed generation and energy efficiency projects across the U.S.

AG&E combines the distributed generation experience of Richter and his team with the tax equity, asset management and financial structuring expertise of Enhanced Capital. Together, they expect to offer clients a variety of financing options for reducing the utility-supplied energy demand of their facilities.

AG&E focuses on middle market commercial and municipal customers, including real estate holding and management companies, sporting arenas, schools and universities, hospitals, and retail locations.

Richter, CEO of AG&E, said: “Our approach enables clients to confront operational costs and environmental impact simultaneously by making it easier and more affordable to implement holistic energy solutions for their facilities.”

“Enhanced Capital is excited to partner with Mike Richter and his team to offer a financing solution for commercial and municipal clients looking to benefit from the installation of renewable energy and energy efficiency assets,” said president and CEO of Enhanced Capital, Michael Korengold. “By leveraging our considerable asset management and tax credit finance expertise, we believe AG&E will be able to offer a unique solution to a historically underserved segment of the marketplace.”

New York-based Enhanced Capital is a diversified private investment firm focused on established small- and mid-sized companies overlooked by traditional sources of capital due to location or size.