Hello Vineeth Kartha.

As you know, Embedded system is a field having large scope and thus could be applied to almost any field. Yes there are a lot of research work going on Embedded system control for power systems.

I just searched in IEEExplore with key word ' embedded system control for power electronics' and this was the result:- http://ieeexplore.ieee.org/search/searchresult.jsp?newsearch=true&queryText=embedded+system+control+for+power+electronics

I have not gone through all the 1,261 research paper in that page. 

Later i again searched with key word- 'embedded system for power electronics' which returned  3000+ results. I think these will be useful for you.

In same way if you search with these keywords in google scholar, science direct and springer you could get an idea on various research work happening in this area.

Thank you