First and second networks of switching devices, each of which are an insulated gate bipolar transistor with an intrinsic reverse-biased clamping diode, are controlled to selectively connect a sinusoidal input voltage and an output to different nodes within a series of capacitors during different portions of input and output voltage cycles to produce a stepped sinusoidal output voltage. The topology requires a low part count, produces relatively low harmonics without filtering when powering artificial lift equipment within a borehole, and scales up to medium voltages without a step-up transformer. During variable speed operation of the lift equipment, optimized switching angles for controlling the switching devices during the voltage cycles may be selected based on modulation producing the desired speed and phase measurements.
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