For use with a power converter couplable to a source of electrical energy, the converter having a power switch that conducts intermittently to transfer energy from the source to an inductive element, and a freewheeling diode that alternately conducts with the power switch to transfer energy to an output of the converter, an active clamp and a method of operating the active clamp. In one embodiment, the active clamp includes: (1) an inductor, coupled in series with the freewheeling diode, and (2) a series-coupled capacitor and clamping switch, coupled in parallel with the inductor, that cooperate therewith to mitigate adverse effects of reverse recovery currents associated with the freewheeling diode and enable substantially zero voltage switching of the power and clamping switches.