This paper presents a novel external secondary self-excitation capacitance and chopper resistance across the diode bridge rectifier in the rotor circuit to control the voltage and frequency of 3-phase, wound-rotor, slip-ring, induction generator (WRSRIG). The problem related to the excitation- capacitance from the rotor side is the required large excitation capacitance to enhance the generator performance in a wide - range. In the present proposed method, a dynamic excitation capacitance is used in the H-Bridge inverter circuit connected in series with a chopper resistance across a 3-phase diode bridge rectifier in the rotor circuit. The duty ratios of the H-bridge thyristor elements and the thyristor chopper element are varied to emulate the excitation-capacitance as well as external-rotor resistance values dynamically, and to be used as terminal voltage and its frequency control. The dynamic excitation-capacitance is used to control the terminal voltage, while the dynamic external rotor resistance is used to control the generator speed (frequency). To study the performance of the WRSRIG a dynamic model is presented in this paper in D-Q axes rotating synchronously in a reference frame. The dynamic model takes into account all the machine parameters, such as stator and rotor - iron core losses, stator and rotor - stray load losses, dynamic saturation of the magnetizing inductance, rotor harmonic losses generated due to switching action of the bridge rectifier, reduction voltage in the rotor circuit due to the over-lap phenomenon and rotor external resistance losses. The new proposed equivalent circuit of the WRSRIG will become an efficient method for studying the performance characteristics of the generator and to be used as a suitable tool for an algorithm of the vector control analysis.