This paper presents a voltage-controlled distribution static synchronous compensator (DSTATCOM)-based voltage regulator for low-voltage distribution grids. The voltage regulator is designed to temporarily meet the grid code, postponing unplanned investments while a definitive solution could be planned to solve regulation issues. The power stage is composed of a three-phase four-wire voltage-source inverter and a second-order low-pass filter. The control strategy has three output voltage loops with active damping and two dc bus voltage loops. In addition, two loops are included to the proposed control strategy: the concept of minimum power point tracking (mPPT) and the frequency loop. The mPPT allows the voltage regulator to operate at the minimum power point, avoiding the circulation of unnecessary reactive compensation. The frequency loop allows the voltage regulator to be independent of the grid voltage information, especially the grid angle, using only the information available at the point-of-common coupling. Experimental results show the regulation capacity, the features of the mPPT algorithm for linear and nonlinear loads, and the frequency stability.