The increasing demand for tethered unmanned aerial platforms in various fields and applications, particularly in telecommunications, leads to growing requirements for the amount and quality of electrical power supplied on board. The paper explores the challenges in hardware, electronic and circuit design of the systems that supply power to the equipment installed on tethered aerial platforms. The arguments for implementing a two-stage DC voltage conversion are provided. In the study the expressions for static and dynamic parameters of the on-board bus voltage regulator and stability conditions for the first stage stabilizer with multiple feedback loops were determined. Additionally, the design of the error signal generation circuit is provided.