A power conversion apparatus for converting polyphase ac power directly to ac power, the power conversion apparatus comprising: a conversion circuit including a plurality of first switching devices (311, 313, 315) connected, respectively, with phases (R, S, T) of the polyphase ac power, and configured to enable electrical switching operation in both directions, and a plurality of second switching devices (312, 31 4, 316) connected, respectively, with the phases (R, S, T) of the polyphase ac power, and configured to enable electrical switching operation in both directions; and a plurality of condensers (821∼826) connected with the conversion circuit; at least one of the condensers being provided, for each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316), between two of the phases of the polyphase ac power corresponding to each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316); wherein a plurality of input side busbars corresponding, respectively, to the phases of the polyphase ac power are arranged side by side with each other; each of the busbars connects input terminals of one of the first switching devices (311, 313, 315) and one of the second switching devices (312, 314, 316) corresponding to one of the phases, with each other; and at least one of the condensers (821 - 823) is disposed at a first portion of each of the busbars, near the input terminals of the first switching devices (311, 31 3, 31 5), between two of the phases of the polyphase ac power, and at least one of the condensers (824 - 826) is disposed at a second portion of each of the busbars, near the input terminals of the second switching devices (312, 314, 316), between two of the phases of the polyphase ac power. a conversion circuit including a plurality of first switching devices (311, 313, 315) connected, respectively, with phases (R, S, T) of the polyphase ac power, and configured to enable electrical switching operation in both directions, and a plurality of second switching devices (312, 31 4, 316) connected, respectively, with the phases (R, S, T) of the polyphase ac power, and configured to enable electrical switching operation in both directions; and a plurality of condensers (821∼826) connected with the conversion circuit; at least one of the condensers being provided, for each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316), between two of the phases of the polyphase ac power corresponding to each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316); at least one of the condensers being provided, for each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316), between two of the phases of the polyphase ac power corresponding to each of the first switching devices (311, 313, 315) and the second switching devices (312, 314, 316); wherein a plurality of input side busbars corresponding, respectively, to the phases of the polyphase ac power are arranged side by side with each other; each of the busbars connects input terminals of one of the first switching devices (311, 313, 315) and one of the second switching devices (312, 314, 316) corresponding to one of the phases, with each other; and at least one of the condensers (821 - 823) is disposed at a first portion of each of the busbars, near the input terminals of the first switching devices (311, 31 3, 31 5), between two of the phases of the polyphase ac power, and at least one of the condensers (824 - 826) is disposed at a second portion of each of the busbars, near the input terminals of the second switching devices (312, 314, 316), between two of the phases of the polyphase ac power.