This paper presents a medium-voltage motor drive with a three-phase modular multilevel PWM inverter and focuses on its control method and operating performance. This motor drive is particularly suitable for fans, blowers, pumps, and compressors, in which the load torque is proportional to the square of the rotating speed. Particular attention is paid to the dc-capacitor voltage fluctuation of each chopper-cell because it may affect the voltage rating of the power switching devices used. This paper describes the theoretical equations related to the amount of the voltage fluctuation. A downscaled model rated at 400V and 15kW is designed and built to confirm the validity and effectiveness of the nine-level (17-level in line-to-line) PWM inverter that is intended for use in medium-voltage motor drives to achieve energy savings.