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With widespread application of voltage source converter (VSC) as a key energy-conversion power electronic device by using the phase-locked loop (PLL) technique for synchronization, the system dynamics has become much complicated. In this paper, the nonlinear dynamics and transient stability of the PLL-based VSC system are investigated, within a unified framework of the (normalized) generalized swing equation. It is found that there are three different types of bifurcation, including the generalized saddle-node, Hopf, and homoclinic bifurcations. Within the coexistence parameter region, the basin boundary of the stable equilibrium point shows either a closed-loop or a fish-like pattern. With the help of the equal area criterion (EAC), the transient stabilities under different transient disturbances including short circuit, voltage dip, and power rise are analyzed. Because the equivalent damping of the VSC is state-dependent, the theoretical results based on the EAC are examined. Furthermore, based on the analytical results from the generalized swing equation, the principle for all major transient stability enhancement methods is uncovered. All these findings are well verified by extensive electromagnetic transient simulations. Therefore, the generalized swing equation provides a deeper physical insight and plays a crucial role in transient stability problems in power-electronic-dominated power systems, similar to the swing equation in traditional power systems.
