Abstract: A permanent magnet fault tolerant generator 32 is driven by a variable speed shaft 34 to create AC power at terminals 36, converted at 40 to DC power before being applied to a load 38. The converter 40 is a bi-directional device which rectifies AC to DC and also acts as an inverter to synthesize AC from the DC. This synthesized AC waveform is imposed on the terminals 36 to maintain a constant magnitude generator output voltage, regardless of the speed of the shaft 34, and thus regardless of the EMF of the generator. This results in reactive currents flowing between the generator 32 and the converter 40, but allows the generator design have a reduced current rating, resulting in improved generator size and weight.