Nowadays, in most parts of the world, power producers and power providers face the challenge of higher demand of power flow, reduced cost delivery of the power, and increase in reliability. There has also been a rise in alternative and renewable energy systems that has led to the rise in installation capacity of power production in the world. The continuous rise in the demand of electrical power has led to compound linkage among the power utilities to enhance the transferring of electrical power. Also due to strong economic and statutory policies, contriving the new TLs and expansion of old ones are becoming quite difficult day by day. Hence, the power systems are made to be operated close to their stability limits (including both transient and dynamic).In these cases, the power system has greater chances of losing its stability even for minute interferences. To enhance the system stability, Flexible AC transmission systems (FACTS) are widely used to control power flow, voltage profile, and giving adequate damping of inter-area oscillations [1]. The most frequently used FACTS devices with respect to its application are the static VAR compensator (SVC). SVC is a "primordial" FACTS device that uses thyristor as its controllers [2]. An SVC is high voltage system that maintains the system voltage effectively at its coupling point, to keep the system voltage invariant at its desired value. It is a shunt device that controls and compensates the reactive power flow with the help of a fixed