An arrangement transmits power between a DC power line and an AC power line carrying a voltage having a number of phases. The arrangement includes a number of transformers, one for each phase and a number of power transfer modules, one for each phase, connected in series between the DC power line and ground, where each module includes a first branch including series connected converter cells and a second branch including series connected switching elements. The primary winding of a transformer is connected to a corresponding AC phase conductor of the AC power line and the secondary winding is connected between a midpoint of the first branch and a midpoint of the second branch of a corresponding power transfer module.