A PWM rectifier includes a main circuit unit which performs a power conversion on the basis of a PWM control signal, a DC voltage loop control unit which generates a current command, a current command restriction unit which sets, when an absolute value of the current command exceeds a limit value, the limit value as a final current command, and otherwise sets the current command as the final current command, a DC voltage loop saturation determination unit which determines a saturation state when the final current command is set to the limit value and otherwise determines as a non-saturation state, a DC voltage command calculation unit which changes the DC voltage command into a value obtained by adding an offset to a minimum or maximum value of the DC voltage value, and a PWM control signal generation unit which generates the PWM control signal from the final current command.