A power converter can include: a plurality of circuit modules coupled in parallel between a first port and a second port, where each of the plurality of circuit modules includes a switching power stage circuit having a first magnetic element coupled between a switch node of the switching power stage circuit and a first terminal of the second port, at least one switch group having first and second transistors and being coupled between a first terminal of the first port and a first terminal of the switching power stage circuit, and at least one first energy storage capacitor for providing energy to a load of the power converter; and a plurality of second energy storage capacitors configured to periodically store energy and release energy to corresponding first energy storage capacitors.