For a power supply with a reduced number of semiconductor devices, a phase shifting transformer receives a three-phase primary voltage and steps the three-phase primary voltage one of up and down to a secondary voltage with a plurality of secondary winding sets. There is phase shifting between different secondary winding sets. A plurality of power cell sets each comprise a plurality of power cells cascaded connected, and each power cell receives one of a single phase and a three-phase voltage of a distinct secondary winding set of the phase shifting transformer. Each power cell comprises no more than eight power semiconductor devices organized as a rectifier and an inverter. Each power semiconductor device is one of a diode and an active switch. Each power cell set generates one phase of a three-phase alternating current output.