Recently, the world’s first ever power electronic traction transformer (PETT) for a 15-kV 16.7-Hz railway grid has been newly developed, commissioned, and installed on the test locomotive, where the PETT is presently in use. The design and development of the PETT are described in two parts of this paper. The details related to the 1.2-MVA medium voltage (MV) PETT prototype, including the electrical design of the power circuit, the sizing and characterization of insulated-gate bipolar transistor (IGBT) devices, the design of the medium-frequency transformer, the cooling system design, insulation coordination, and protection,are presented in this part, while the preceding paper deals with the overall system requirements and control system design based on the low-voltage (LV) PETT prototype. The identical control hardware and software from the LV PETT prototype were used for the MV PETT prototype, thus reducing significantly commissioning time. The experimental results obtained during the testing are presented to demonstrate the performance of the developed MV PETT prototype.