A power converter, comprising: a first direct current bus; a second direct current bus; a third alternating current bus; and two or more converter legs (20, 30, 40), wherein each converter leg (20, 30, 40) is operatively coupled between the first direct current bus and the second direct current bus in a parallel configuration and comprises: a first string (80, 90, 100) comprising a first portion including a plurality of switches (S 11, S 12, S 21, S 22, S 31, S 32,) operatively coupled to each other in series and a first node between two of the plurality of switches, and a second portion including a plurality of switches (S 13, S 14, S 23, S 24, S 33, S 34,) operatively coupled to each other in series and a second node between two of the plurality of switches 3, the second portion of the first string (80, 90, 100) being operatively coupled to the first portion via a third node; and a second string (110, 120, 130) operatively coupled to the respective first string (80, 90, 100) via the first node and the second node in a parallel configuration, wherein the second string comprises a first portion including a plurality of switching units (SU 11, SU 12, SU 21, SU 22, SU 31, SU 32) operatively coupled to each other in series and a second portion including a plurality of switching units (SU 13, SU 14, SU 23, SU 24, SU 33, SU 34) operatively coupled to each other in series, the second portion being operatively coupled to the first portion via a fourth node (220, 230, 240), each of the plurality of switching units comprising a plurality of switching elements (170, 180) and an energy storage element arranged in a half bridge configuration, a full bridge configuration or a combination thereof; the power converter being characterized in that the third node of the first string (80, 90, 100) of each converter leg (20, 30, 40) is operatively coupled to the third alternating current bus and in that the fourth node of the first converter leg is operatively coupled at least to the fourth node of the second converter leg via a fourth bus. a first direct current bus; a second direct current bus; a third alternating current bus; and two or more converter legs (20, 30, 40), wherein each converter leg (20, 30, 40) is operatively coupled between the first direct current bus and the second direct current bus in a parallel configuration and comprises: a first string (80, 90, 100) comprising a first portion including a plurality of switches (S 11, S 12, S 21, S 22, S 31, S 32,) operatively coupled to each other in series and a first node between two of the plurality of switches, and a second portion including a plurality of switches (S 13, S 14, S 23, S 24, S 33, S 34,) operatively coupled to each other in series and a second node between two of the plurality of switches 3, the second portion of the first string (80, 90, 100) being operatively coupled to the first portion via a third node; and a second string (110, 120, 130) operatively coupled to the respective first string (80, 90, 100) via the first node and the second node in a parallel configuration, wherein the second string comprises a first portion including a plurality of switching units (SU 11, SU 12, SU 21, SU 22, SU 31, SU 32) operatively coupled to each other in series and a second portion including a plurality of switching units (SU 13, SU 14, SU 23, SU 24, SU 33, SU 34) operatively coupled to each other in series, the second portion being operatively coupled to the first portion via a fourth node (220, 230, 240), each of the plurality of switching units comprising a plurality of switching elements (170, 180) and an energy storage element arranged in a half bridge configuration, a full bridge configuration or a combination thereof; a first string (80, 90, 100) comprising a first portion including a plurality of switches (S 11, S 12, S 21, S 22, S 31, S 32,) operatively coupled to each other in series and a first node between two of the plurality of switches, and a second portion including a plurality of switches (S 13, S 14, S 23, S 24, S 33, S 34,) operatively coupled to each other in series and a second node between two of the plurality of switches 3, the second portion of the first string (80, 90, 100) being operatively coupled to the first portion via a third node; and a second string (110, 120, 130) operatively coupled to the respective first string (80, 90, 100) via the first node and the second node in a parallel configuration, wherein the second string comprises a first portion including a plurality of switching units (SU 11, SU 12, SU 21, SU 22, SU 31, SU 32) operatively coupled to each other in series and a second portion including a plurality of switching units (SU 13, SU 14, SU 23, SU 24, SU 33, SU 34) operatively coupled to each other in series, the second portion being operatively coupled to the first portion via a fourth node (220, 230, 240), each of the plurality of switching units comprising a plurality of switching elements (170, 180) and an energy storage element arranged in a half bridge configuration, a full bridge configuration or a combination thereof; the power converter being characterized in that the third node of the first string (80, 90, 100) of each converter leg (20, 30, 40) is operatively coupled to the third alternating current bus and in that the fourth node of the first converter leg is operatively coupled at least to the fourth node of the second converter leg via a fourth bus.