Conventional electric power generation system employ a solid state electronically controlled IM that may be capable of self-start motoring and power generation, but, when the DC bus voltage collapses upon a failure, an additional external source of DC voltage is not available for IM excitation. The present invention provides an internal bus that does not collapse when the main DC bus is shorted. This internal or auxiliary bus may be used to excite the IM to provide generation function. The power generation systems of the present invention may play a significant role in the modern aerospace and military industries.