An alternator comprises: an output rectifier converting AC voltage produced in an output armature winding into DC and supplying the DC electric power to a rechargeable battery and a current consumer; an excitation rectifier which is electrically separated from the output rectifier to convert AC voltage produced in an excitation armature winding into DC; and a power generation control unit. The power generation control unit compares the output voltage of the output rectifier or the terminal voltage of the battery with a predetermined reference voltage and controls current supplied to an excitation winding to which the DC voltage outputted from the excitation rectifier is applied, based on the comparison result.