Impedance characteristics of the floating capacitor in the submodule (SM) of a modular multilevel converter (MMC) change due to its chemical and aging characteristics. This can result in a rise of voltage ripple across SM capacitors, uneven power distribution among the SMs and could also interrupt the operation with prolonged use of degraded capacitors. Existing balancing approaches are presented for the MMC with equal SM capacitance and ignored the effect of capacitor degradation as well as

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... ameter mismatch. Hence, a closed-loop control scheme that incorporates the effect of capacitor degradation is much necessitated. This study aims to overcome this gap by proposing a new power balancing control algorithm for SM capacitors, which effectively controls and evenly distributes the power among SMs. The efficacy of the proposed strategy is substantiated through PLECS simulations and OPAL-RT/OP4510 controller-based experiments on a single-phase MMC laboratory prototype.