The NASA Solar Electric Propulsion Technology Application Readiness (NSTAR) program, managed by the Jet Propulsion Laboratory (JPL), is currently developing a high performance, simplified ion propulsion system. This propulsion system, which is throttleable from 0.5- to 2.3-kW output power to the thruster, targets primary propulsion applications for planetary and Earth-space missions and has been baselined as the primary propulsion system for the first New Millennium spacecraft. The NASA Lewis Research Center is responsible for the design and delivery of a breadboard power processing unit (PPU) and an engineering model thruster (EMT) for this system and will manage the contract for the delivery of the flight hardware to JPL. The PPU requirements, which dictate a mass of less than 12 kg with an efficiency of 0.9 or greater at a 2.3-kW output, forced a departure from the state-of-the-art ion thruster PPU design. Several innovations--including dual-use topologies, simplified thruster control, and the use of ferrite magnetic materials--were necessary to meet these requirements.