A static synchronous compensator (STATCOM), also known as a `static synchronous condenser` (`STATCOM`), is a regulating device used on alternating current electricity transmission networks. It is based on a power electronics voltage-source converter and can act as either a source or sink of reactive AC power to an electricity network. If conne...
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http://en.wikipedia.org/wiki/STATCOM
A particular type of Static Var Compensator, in which Power Electronic Devices such as GTO's are used to generate the reactive power required, rather than capacitors and inductors.
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