A cascaded multi-level inverter is controlled in fault bypass operation. Rather than relying on approximations or feedback forms, the reference voltages are generated as an analytic solution. The analytic solution and its implementation are not affected by the output frequency of the inverter and it is able to provide maximum possible balanced line-line voltage to a three-phase motor. In addition, the analytic solution provides exact limits for the allowable operation region of the motor power factor in order to prevent overvoltage conditions of the cell inverter.