The demand for high voltage, high power, high precision and high dynamic 3AC-voltage sources is increasing constantly. One application that gets more and more important in recent years and demands such voltage sources is e.g. Power-Hardware-in-the-Loop (PHIL) Emulation. In this paper a new power converter topology called “Parallel Hybrid Converter” or PHC is presented and a corresponding control scheme is derived. This new converter has a terminal behavior similar to a MMC or MMPMC but compared to them the PHC features significantly reduced costs and a significantly improved power density.