A power converter, comprising: at least two legs (300, 626, 628, 630) each leg characterized by: a first string comprising a plurality of diodes, a first connecting node, and a second connecting node, wherein the first string is operatively coupled across a first bus and a second bus, wherein the first string comprises a first branch and a second branch, and wherein the second branch is operatively coupled to the first branch via a third connecting node (318; 618); and a second string operatively coupled to the first string via the first connecting node and the second connecting node, wherein the second string comprises a plurality of switching units, wherein the third connecting nodes (318; 618) of the at least two legs are directly connected to each other; wherein the second string comprises a first portion; and a second portion operatively coupled to the first portion via an AC phase (324, 632, 634, 636) and an inductor, wherein each of the first and second portions comprises the plurality of switching units each having a plurality of fully controllable semiconductor switches (402, 404, 452, 454, 464, 466) and at least one energy storage device (406, 456); and wherein at least one of the plurality of fully controllable switches of the plurality of switching units is coupled in series with the at least one energy storage device (406, 456) to form a first limb (414, 452, 454), and the other fully controllable switches of the plurality of switching units form a second limb (416, 472, 474), and wherein the first limb is coupled in parallel with the second limb. at least two legs (300, 626, 628, 630) each leg characterized by: a first string comprising a plurality of diodes, a first connecting node, and a second connecting node, wherein the first string is operatively coupled across a first bus and a second bus, wherein the first string comprises a first branch and a second branch, and wherein the second branch is operatively coupled to the first branch via a third connecting node (318; 618); and a second string operatively coupled to the first string via the first connecting node and the second connecting node, wherein the second string comprises a plurality of switching units, a first string comprising a plurality of diodes, a first connecting node, and a second connecting node, wherein the first string is operatively coupled across a first bus and a second bus, wherein the first string comprises a first branch and a second branch, and wherein the second branch is operatively coupled to the first branch via a third connecting node (318; 618); and a second string operatively coupled to the first string via the first connecting node and the second connecting node, wherein the second string comprises a plurality of switching units, wherein the third connecting nodes (318; 618) of the at least two legs are directly connected to each other; wherein the second string comprises a first portion; and a second portion operatively coupled to the first portion via an AC phase (324, 632, 634, 636) and an inductor, wherein each of the first and second portions comprises the plurality of switching units each having a plurality of fully controllable semiconductor switches (402, 404, 452, 454, 464, 466) and at least one energy storage device (406, 456); and wherein at least one of the plurality of fully controllable switches of the plurality of switching units is coupled in series with the at least one energy storage device (406, 456) to form a first limb (414, 452, 454), and the other fully controllable switches of the plurality of switching units form a second limb (416, 472, 474), and wherein the first limb is coupled in parallel with the second limb.