In a variable speed generator-motor apparatus, a power converter includes six two-terminal arms each formed by serially connecting k unit converters that can output arbitrary voltage, an AC rotating electric machine includes an armature winding with 60-degree phase zone formed from a double layer coil, the armature winding being divided into first and second pole sides to form double star connection by binding neutral points and to be drawn out as two sets of three-phase terminals; three-phase terminals on the first pole side are connected to first terminals of three arms, and second terminals of the three arms are star-connected to a first terminal of a DC power supply; three-phase terminals on the second pole side are connected to second terminals of remaining three arms, and first terminals of the three arms are star-connected to a second terminal of the DC power supply.