An electric power generating installation has a plurality of generator/motor units, each of which has a motor for converting kinetic energy into turning torque, a generator connected mechanically to the motor and connected electrically to an electric power system for converting turning torque into electric energy. A control system is provided for controlling the motor and the generator in such a way that they can be operated stably and continuously. The control system controls the different generator/motor units in different control modes so as to minimize cross current and resonance or beat phenomena.