A power system for offshore application, comprising: a plurality of power circuits (601, 603, 607), each comprising: an alternating current bus (104, 602, 604, 606) connected to a generator (614, 616) and supplying power to an auxiliary load; a first direct current bus (106, 624, 644, 664) having a first DC voltage supplying power to a first load; a second DC bus (110, 630, 650, 670) having a second DC voltage supplying power to a second load; a first DC to DC converter (122, 640, 660, 680) coupled between the first DC bus (106, 624, 644, 664) and the second DC bus (110, 630, 650, 670), wherein the first DC to DC converter (122, 640, 660, 680) is configured for bidirectional power flow; a first AC to DC converter (114, 206) coupled between the AC bus (104, 602, 604, 606) and the first DC bus (106, 624, 644, 664); wherein the first DC bus (106, 624, 644, 664) of at least one power circuit (601, 603, 607) is coupled to the second DC bus (110, 630, 650, 670) of at least another power circuit (601, 603, 607) with a second DC to DC converter (682, 684, 686); and a controller configured to control the operation of the first DC to DC converter (122, 640, 660, 680), second DC to DC converter (682, 684, 686) and the first AC to DC converter (114, 206) for regulating the first and second DC voltages; wherein the controller is further configured to provide power to the second DC bus (110, 630, 650, 670) from the first AC to DC converter during a first operating state and from the first DC to DC converter (122, 640, 660, 680) during a second operating state initiated when a fault is detected; characterized in further comprising a second AC to DC converter coupled between the second DC bus (110, 630, 650, 670) and the AC bus (104, 602, 604, 606) of the same power circuit (601, 603, 607) or another power circuit (601, 603, 607), wherein the controller is configured to provide power to the first DC bus (106, 624, 644, 664) from the second DC bus (110, 630, 650, 670) when the fault on the first AC to DC converter (114, 206) or a feeder and a transformer that feed power to the second AC to DC converter is detected. a plurality of power circuits (601, 603, 607), each comprising: an alternating current bus (104, 602, 604, 606) connected to a generator (614, 616) and supplying power to an auxiliary load; a first direct current bus (106, 624, 644, 664) having a first DC voltage supplying power to a first load; a second DC bus (110, 630, 650, 670) having a second DC voltage supplying power to a second load; a first DC to DC converter (122, 640, 660, 680) coupled between the first DC bus (106, 624, 644, 664) and the second DC bus (110, 630, 650, 670), wherein the first DC to DC converter (122, 640, 660, 680) is configured for bidirectional power flow; a first AC to DC converter (114, 206) coupled between the AC bus (104, 602, 604, 606) and the first DC bus (106, 624, 644, 664); an alternating current bus (104, 602, 604, 606) connected to a generator (614, 616) and supplying power to an auxiliary load; a first direct current bus (106, 624, 644, 664) having a first DC voltage supplying power to a first load; a second DC bus (110, 630, 650, 670) having a second DC voltage supplying power to a second load; a first DC to DC converter (122, 640, 660, 680) coupled between the first DC bus (106, 624, 644, 664) and the second DC bus (110, 630, 650, 670), wherein the first DC to DC converter (122, 640, 660, 680) is configured for bidirectional power flow; a first AC to DC converter (114, 206) coupled between the AC bus (104, 602, 604, 606) and the first DC bus (106, 624, 644, 664); wherein the first DC bus (106, 624, 644, 664) of at least one power circuit (601, 603, 607) is coupled to the second DC bus (110, 630, 650, 670) of at least another power circuit (601, 603, 607) with a second DC to DC converter (682, 684, 686); and a controller configured to control the operation of the first DC to DC converter (122, 640, 660, 680), second DC to DC converter (682, 684, 686) and the first AC to DC converter (114, 206) for regulating the first and second DC voltages; wherein the controller is further configured to provide power to the second DC bus (110, 630, 650, 670) from the first AC to DC converter during a first operating state and from the first DC to DC converter (122, 640, 660, 680) during a second operating state initiated when a fault is detected; characterized in further comprising a second AC to DC converter coupled between the second DC bus (110, 630, 650, 670) and the AC bus (104, 602, 604, 606) of the same power circuit (601, 603, 607) or another power circuit (601, 603, 607), wherein the controller is configured to provide power to the first DC bus (106, 624, 644, 664) from the second DC bus (110, 630, 650, 670) when the fault on the first AC to DC converter (114, 206) or a feeder and a transformer that feed power to the second AC to DC converter is detected.