SPEC has recently received a major award from Bonneville Power Administration (BPA), to develop and demonstrate a 10 MVA STATCOM based on the Light Triggered Emitter Turn-off (ETO) Thyristor technology. The project is also supported by additional fundings from Department of Energy's Energy Storage Program managed by Sandia National Lab, TVA, Tri-City and EPRI. The initial phase of the project will demonstrate the STATCOM operation based on the ETO and a novel five level converter topology. In the later phase of the project, energy storage system will be added to the STATCOM to provide real power injection and absorption. The intended application is for absorbing the flunctuating power generated by a wind farm. Other participatants of the project include Curtiss Wright and Florida State University.