This paper introduced a new modular multi-level converter (MMC), which could enhance the voltage and power level by sub-converter modules in series and was easy to extend to any level of output. Its structure and working mechanism were described. The values of four main components were analyzed which were DC power supply, reactor L, sub-module's power switch and capacitor C, and corresponding affecting factors were discussed. Their value is critical to the reliable operation of the MMC system. The conclusions of the analysis given have some practical sig...