This paper presents a 500 kVA DC-fed regenerative power circulation platform to test newly emerging Silicon Carbide (SiC) MOSFETs based medium voltage (MV, 4160 V) Power Electronic Converter (PEC) against commercially available Silicon (Si) IGBT based low voltage (LV, 690 V) PEC allowing for comparative performance evaluation. Each voltage level have AC/DC and DC/AC conversion stages allowing for testing of two MV and two LV simultaneously. The interface between voltage levels is facilitated by a line frequency transformer and two mechanically coupled induction machines. The paper presents the principle functionalities of the designed power circulation test platform with insights into considerations on safety, communication protocols, controllers, hardware protection and system control for a reliable and safe testing of kVA rated LV and MV PEC systems. The designed test platform features calorimetric power loss measurements enabled by high precision coolant temperature and mass flow transducers. Circulating power through multiple converters at once will allow for a comparative analysis of power conversion efficiency, power quality and electromagnetic interference and emissions for Si IGBT and SiC MOSFET enabled high power LV and MV PECs.