Abstract: With the development of accelerator technology, the working frequency and current rising rate of the pulse power supply of heavy ion accelerator are gradually increased. The magnet load of pulse power supply has the resistive characteristic, and it will absorb a large amount of reactive power in the rising section of current waveform, which will have a strong periodic impact on the power grid. At the same time, the high precision requirement of fast current rising rate poses new challenges to power supply design. In this paper, a suspension type H-bridge cascade topology based on capacitor energy storage is designed, which uses the energy storage capacitance and load inductance of the power supply to carry out reactive power interaction, and realizes the internal circulation of the reactive power, so as to reduce the impact on the power grid. At the same time, multilevel modulation and multiple frequency phase shift method is adopted to ensure the high precision demand under the fast dynamic response of power supply. The experimental results of the prototype verify the feasibility of the power supply topology and control principle, providing a new solution for the pulse power supply of accelerator based on fast current rising rate.