An AC-AC Converter for an AC source which in one embodiment has a first rectifier section rectifying the AC source into a first pulsed DC link voltage signal and a high frequency modulating section coupled to the first pulsed DC link voltage signal and producing a high frequency AC voltage signal. A high frequency transformer is coupled to the high frequency AC voltage signal producing a transformed high frequency AC signal. There is a second rectifier section coupled to the transformed high frequency AC signal and producing a second pulsed DC voltage signal and an unfolder section coupled to the second pulsed DC voltage signal and producing an output AC signal.