Series compensation in long transmission lines is an effective solution of enhancing power transfer capacity of Power System network. In this paper, series passive compensation and shunt active compensation provided by static synchronous compensator (STATCOM) and other FACTS controllers connected at the electrical center of the transmission line are considered. The presence of series capacitors has given rise to the phenomena Subsynchronous Resonance (SSR). But in few conditions such as in fault conditions, SSR phenomenon takes place which can damage the turbine generator shaft. In this paper SSR phenomenon is studied with modified IEEE second benchmark model and various techniques has been developed for damping of SSR by adjusting the series compensation and using the FACTS controllers. Results have been taken with the help of MATLAB simulation.