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The fast development of renewable energies leads to an increase in the power electronics penetration in transmission systems. This is particularly true if one considers a 100% renewable energies power system, where wind and solar photovoltaic energies, which make most of the renewable energies connections today, are connected to the grid through power electronics converters. Because power electronics-based generators and synchronous machines-based generators have very different dynamic behaviours, some approximations usually used to run transient simulations of transmission systems might not be optimal for future grids. The systematic use of the phasor approximation applied to the power lines, implemented in most of the Transient Simulation Programs, is indeed not relevant any more. To avoid the use of Electromagnetic Transient simulations, that are resource-demanding and time-consuming, this paper presents a novel Model Order Reduction technique for large grids with a high penetration of power electronic devices. Compared to the classical phasor approximation, this event-based state residualization approximation allows accurate transient simulations and at the same time an optimal reduction of the number of the system’s state variables depending on the observed variables, the considered events and the tolerated approximation error. [ABSTRACT FROM AUTHOR]