This paper proposes a Capacitor Excited Induction Generator (CEIG)-Matrix Converter (MC) system for feeding stand-alone AC loads. The variable output voltage magnitude and frequency from CEIG is converted into a constant voltage magnitude and frequency at the load terminals by controlling MC using Space Vector Modulation (SVM) technique. This single-stage MC is turned up as a good alternative for the proposed system against commonly used AC/DC/AC two stage power converters. The configuration and implementation of the closed-loop control scheme employing dSPACE 1103 real time controller have been fully described in the paper. The proposed closed-loop controller regulates the AC load voltage irrespective of changes in the prime mover speed and load. A method for predetermining the steady-state performance of the proposed system has been developed and described with relevant analytical expressions. The effectiveness of the proposed system is exemplified through simulation results for various operating conditions. The proposed control technique is further validated using an experimental setup developed in the laboratory.