Reversible multi-modular converter has such merits as bidirectional energy flow, unity power factor, high power and high reliability. The Interleaved space vector modulation technique is developed to acquire a high equivalent switching frequency, and reduce the harmonic current injected into AC grid. This paper introduces a new reversible multi-modular converter, which is preferred to be the interface between AC grid and DC bus. Then, the Interleaved space vector modulation technique is demonstrated. Furthermore, a novel parallel control scheme for the reversible multi-modular converter is presented. Results are validated by simulation experiments.