A power system for offshore application, comprising: a plurality of power circuits , each comprising: an alternating current (AC) bus connected to a generator and supplying power to an auxiliary load ; a first direct current (DC) bus having a first DC voltage supplying power to a first load ; a second DC bus having a second DC voltage supplying power to a second load ; a first DC to DC converter coupled between the first DC bus and the second DC bus , wherein the first DC to DC converter is configured for bidirectional power flow; a first AC to DC converter coupled between the AC bus and the first DC bus ; wherein the first DC bus of at least one power circuit is coupled to the second DC bus of at least another power circuit with a second DC to DC converter ; and a controller configured to control the operation of the first DC to DC converter , second DC to DC converter and the first AC to DC converter for regulating the first and second DC voltages; wherein the controller is further configured to provide power to the second DC bus from the first AC to DC converter during a first operating state and from the first DC to DC converter 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 and the AC bus of the same power circuit or another power circuit , wherein the controller is configured to provide power to the first DC bus from the second DC bus when the fault on the first AC to DC converter or a feeder and a transformer that feed power to the second AC to DC converter is detected. a plurality of power circuits , each comprising: an alternating current (AC) bus connected to a generator and supplying power to an auxiliary load ; a first direct current (DC) bus having a first DC voltage supplying power to a first load ; a second DC bus having a second DC voltage supplying power to a second load ; a first DC to DC converter coupled between the first DC bus and the second DC bus , wherein the first DC to DC converter is configured for bidirectional power flow; a first AC to DC converter coupled between the AC bus and the first DC bus ; an alternating current (AC) bus connected to a generator and supplying power to an auxiliary load ; a first direct current (DC) bus having a first DC voltage supplying power to a first load ; a second DC bus having a second DC voltage supplying power to a second load ; a first DC to DC converter coupled between the first DC bus and the second DC bus , wherein the first DC to DC converter is configured for bidirectional power flow; a first AC to DC converter coupled between the AC bus and the first DC bus ; wherein the first DC bus of at least one power circuit is coupled to the second DC bus of at least another power circuit with a second DC to DC converter ; and a controller configured to control the operation of the first DC to DC converter , second DC to DC converter and the first AC to DC converter for regulating the first and second DC voltages; wherein the controller is further configured to provide power to the second DC bus from the first AC to DC converter during a first operating state and from the first DC to DC converter 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 and the AC bus of the same power circuit or another power circuit , wherein the controller is configured to provide power to the first DC bus from the second DC bus when the fault on the first AC to DC converter or a feeder and a transformer that feed power to the second AC to DC converter is detected. <EOS>