I have two forms and I am trying to capture an event generated from frmEventGenerate.cs in frmEventReceive.cs.
In this example I can receive the event from frmEven
In your constructor, after instantiating frmEventGenerate:
frmGen.Evt += ReceiveEvent;
You don't need new LinkEventHandler(...) any more - as of C# 2, there's a method group conversion available which you can use to convert from a method group (the name of a method) to a delegate type.
EDIT: I hadn't seen that your event was static. That suggests you should actually use:
frmEventGenerate.Evt += ReceiveEvent;
... and you don't need the frmGen variable at all.
However, I would strongly discourage you from this - why do you want the event to be static in the first place? (I'd also urge you to name your types more sensibly - something like "EventGenerator" would be better here, for example. Ignoring the convention that type names should be in Pascal case leads to confusing code.)