A method and system for operating a mini-grid including one or more power generation sources and one or more loads independently from a utility grid is provided, where the mini-grid is disconnected from the utility grid in response to a power disruption over the utility grid. A universal interconnect device forms a connection between the mini-grid and the utility grid. In the disconnected state, the mini-grid operates independently from the utility grid, such that the power generation sources of the mini-grid supply the loads. Frequency and voltage regulation are provided by the universal interconnect device through a monitoring function performed by a controller in conjunction with at least an energy storage device, which can absorb or generate power as needed.