A high-voltage, direct current (HVDC) electric power transmission system uses direct current for the bulk transmission of electrical power, in contrast with the more common alternating current systems. For long-distance distribution, HVDC systems are less expensive and suffer lower electrical losses. For shorter distances, the higher cost of DC conversion equipment compared to an AC system may be warranted where other benefits of direct current links are useful.

The modern form of HVDC transmission uses technology developed extensively in the 1930s in Sweden at ASEA. Early commercial installations included one in the Soviet Union in 1951 between Moscow and Kashira, and a 10-20 MW system between Gotland and mainland Sweden in 1954. The longest HVDC link in the world is currently the Inga-Shaba 1,700 km (1,100 mi) 600 MW link connecting the Inga Dam to the Shaba copper mine, in the Democratic Republic of Congo.

The first long-distance transmission of electric power was demonstrated using direct current in 1882 at the Miesbach-Munich Power Transmission, but only 2.5 kW was transmitted. An early method of high-voltage DC transmission was developed by the Swiss engineer Rene Thury and his method was put into practice by 1889 in Italy by the Acquedotto de Ferrari-Galliera company. This system used series-connected motor-generator sets to increase voltage. Each set was insulated from ground and driven by insulated shafts from a prime mover. The line was operated in constant current mode, with up to 5,000 volts on each machine, some machines having double commutators to reduce the voltage on each commutator. This system transmitted 630 kW at 14 kV DC over a distance of 120 km. The Moutiers-Lyon system transmitted 8,600 kW of hydroelectric power a distance of 124 miles, including 6 miles of underground cable. The system used eight series-connected generators with dual commutators for a total voltage of 150,000 volts between the poles, and ran from about 1906 until 1936. Fifteen Thury systems were in operation by 1913. Other Thury systems operating at up to 100 kV DC operated up to the 1930s, but the rotating machinery required high maintenance and had high energy loss. Various other electromechanical devices were tested during the first half of the 20th century with little commercial success.

One conversion technique attempted for conversion of direct current from a high transmission voltage to lower utilisation voltage was to charge series-connected batteries, then connect the batteries in parallel to serve distribution loads. While at least two commercial installations were tried around the turn of the 20th century, the technique was not generally useful owing to the limited capacity of batteries, difficulties in switching between series and parallel connections, and the inherent energy inefficiency of a battery charge or discharge cycle.

The grid controlled mercury arc valve became available for power transmission during the period 1920 to 1940. Starting in 1932, General Electric tested mercury-vapor valves and a 12 kV DC transmission line, which also served to convert 40 Hz generation to serve 60 Hz loads, at Mechanicville, New York. In 1941, a 60 MW, +or -200 kV, 115 km buried cable link was designed for the city of Berlin using mercury arc valves (Elbe-Project), but owing to the collapse of the German government in 1945 the project was never completed.The nominal justification for the project was that, during wartime, a buried cable would be less conspicuous as a bombing target. The equipment was moved to the Soviet Union and was put into service there.

Introduction of the fully-static mercury arc valve to commercial service in 1954 marked the beginning of the modern era of HVDC transmission. A HVDC-connection was constructed by ASEA between the mainland of Sweden and the island Gotland. Mercury arc valves were common in systems designed up to 1975, but since then, HVDC systems use only solid-state devices. From 1975 to 2000, line-commutated converters (LCC) using thyristor valves were relied on. According to experts such as Vijay Sood, the next 25 years may well be dominated by force commutated converters, beginning with capacitor commutative converters (CCC) followed by self commutating converters which have largely supplanted LCC use. Since use of semiconductor commutators, hundreds of HVDC sea-cables have been laid and worked with high reliability, usually better than 96% of the time.

High Voltage Direct Current Transmission, perhaps Multi Terminal High Voltage Direct Current (MTHVDC) is the future of long distance bulk power transmission.

Here are some documents........ worth reading!! 

1. High Voltage Direct Current (HVDC)Transmission Systems Technology
Multiterminal HVDC for High Power Transmission in Europe
Role of HVDC and FACTS in future Power Systems
Power Electronics Converters Applications and Design
Modern HVDC a Presentation
Adaptive Granular Control of an HVDC System: A Rough Set Approach