A protection system and a protection method are provided for protecting a double fed induction generator and a gearbox during a grid fault. The protection system includes a plurality of controlled impedance devices. Each of the controlled impedance devices is coupled between a respective phase of a stator winding of the double fed induction generator and a respective phase of a grid side converter. The protection system also includes a controller configured for coupling and decoupling impedance in one or more of the plurality of controlled impedance devices in response to changes in at least one of a utility grid voltage and a utility grid current.