A system, and associated method, for controlling a motor drive coupled to an AC power source in a condition wherein the motor drive is generating a regenerative current. The system includes a plurality of electronic switching devices structured to be provided in anti-parallel connection with a plurality of rectifier diodes of the motor drive, and a controller structured and configured to receive a number of phase voltages from the AC power source, determine a grid angle for the AC power source using the number of phase voltages, and generate a number of control signals for controlling the electronic switching devices using the grid angle when the motor drive is generating the regenerative current.