Renewable energy and storage technologies have had a meaningful growth in the past few decades. The use of multilevel topologies within these technologies is being preferably chosen due totheir better features over the conventional full-bridge inverters when the applications involve high-power processing. Moreover, digital control algorithms make it possible for power electronics converters to be operated in different manners without changing their structure. This presentation describes a bidirectional multilevel shunt compensator (BMSC) that is able to perform different and simultaneous tasks. There are eight possible modes of operation that a decision taker may demand of the BMSC. The control algorithm is based on the conservative power theory (CPT). Simulation and experimental results are presented to verify the effectiveness of the BMSC.