Definition : Static Synchronous Compensator
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What does STATCOM mean?

Static Synchronous Compensator (STATCOM), sometimes also known as a Static Synchronous Condenser (STATCON), is a power electronic device used on Alternating Current (AC) electricity transmission networks. STATCOM is connected in shunt with the line. The primary purpose of STATCOM is to supply a fast-acting, precise, and adjustable amount of reactive power to the AC power system to which they are connected. it can act as either a source or sink of reactive power in synchronization with the demand to stabilize the voltage of the power network.