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A novel three-phase dc-dc converter based on the three-phase neutral point clamped (NPC) commutation cell is proposed. A static analysis is made for a particular mode of operation, allowing the development of a design procedure for the power stage. The small-signal analysis based on the phasor transformation is also proposed, providing fundamental knowledge for a satisfactory compensation in closed-loop operation. From the theoretical analysis carried out, a design procedure is elaborated, providing the values of all power stage components. Experimental results of a 10 kW prototype are also presented to validate the theoretical considerations made in the paper.