A power conversion apparatus to be applied to a generation system that interconnects with an alternating current power system, the power conversion apparatus comprising: an inverter circuit that is adapted to convert a direct current power into an alternating current power; system voltage measurement means adapted to measure a system voltage of the alternating current power system; direct current power measurement means adapted to measure a direct current power to be input into the inverter circuit; alternating current command value calculation means adapted to calculate an alternating current command value (livr0) to control an alternating current output from the inverter circuit, based on the direct current power measured by the direct current power measurement means (74,75) and the system voltage measured by the system voltage measurement means; characterised in that the power conversion apparatus further comprises: voltage drop detection means adapted to detect a voltage drop of the alternating current power system, based on the system voltage measured by the system voltage measurement means; and current limiting means adapted to decrease a current limit value to limit the alternating current command value (livr0) calculated by the alternating current command value calculation means when the voltage drop is detected by the voltage drop detection means so that a ripple of a current output from the inverter circuit does not exceed a setting value of an overcurrent relay provided at an output side of the inverter circuit. an inverter circuit that is adapted to convert a direct current power into an alternating current power; system voltage measurement means adapted to measure a system voltage of the alternating current power system; direct current power measurement means adapted to measure a direct current power to be input into the inverter circuit; alternating current command value calculation means adapted to calculate an alternating current command value (livr0) to control an alternating current output from the inverter circuit, based on the direct current power measured by the direct current power measurement means (74,75) and the system voltage measured by the system voltage measurement means; characterised in that the power conversion apparatus further comprises: voltage drop detection means adapted to detect a voltage drop of the alternating current power system, based on the system voltage measured by the system voltage measurement means; and current limiting means adapted to decrease a current limit value to limit the alternating current command value (livr0) calculated by the alternating current command value calculation means when the voltage drop is detected by the voltage drop detection means so that a ripple of a current output from the inverter circuit does not exceed a setting value of an overcurrent relay provided at an output side of the inverter circuit. voltage drop detection means adapted to detect a voltage drop of the alternating current power system, based on the system voltage measured by the system voltage measurement means; and current limiting means adapted to decrease a current limit value to limit the alternating current command value (livr0) calculated by the alternating current command value calculation means when the voltage drop is detected by the voltage drop detection means so that a ripple of a current output from the inverter circuit does not exceed a setting value of an overcurrent relay provided at an output side of the inverter circuit.