This paper describes the principles of operation and the physical model of an advanced AC-DC converter generator (with the electronic converter acting as an AC-DC rectifier with reverse-conducting MOSFETs (metal-oxide semiconductor field-effect transistors) as fast-electronic switches with a relatively low ON-state voltage drop) for HSVs. An AC-DC converter, when seen as an AC-DC rectifier, can be used in many fields, e.g., for multi-functional AC-DC/DC-AC converter generator/starter and conventional DC-AC converter motors and AC-DC converter generators or generator sets, welding machines, etc. The paper also describes a novel AC-DC converter, with reverse-conducting transistors and without the use of optoelectronic separation (which does not require a separate power supply), which may be easily realized in IC (integrated-circuit) technology. Computer simulation allows for waveform evaluation for timing analysis of all components of the AC-DC-converter's physical model, both during normal operation as well as in some states of emergency. The paper also presents the results of bench experimental studies where the MOSFETs were used as fast-electronic switches with a relatively low ON-state voltage drop. For experimental studies, a novel AC-DC converter has been put together on the Mitsubishi FM600TU-3A module. The AC-DC converter with reverse-conducting transistors in a double-way connection has a lot of advantages compared to the conventional AC-DC converter acting as a diode rectifier, such as higher energy efficiency and greater reliability resulting from the lower temperature of electronic switches.