This dissertation deals with the problem of dynamic aggregation of dualinput stabilizer models applied on voltage regulators of coherent generating units to calculate dynamic equivalents for power system transient stability studies. The methodology used for the calculation of coherency-based dynamic equivalents has three basic steps: the identification of the coherent groups of generating units, the network reduction and the dynamic aggregation of coherent generator models. The dynamic aggregation of a group of coherent generating units attached to a common busbar consists of the representation of this group by one or more equivalent generating units. There will be an equivalent model for each component of the generating unit, i.e., an equivalent model for the synchronous machine, other one for the excitation system, and so on. The linear parameters of the equivalent transfer function are numerically adjusted to match the frequency response of the corresponding aggregated transfer function which represents the sum of the individual transfer functions for each coherent group. This characterises a multivariable optimization problem. The frequency responses are presented in Bode diagrams (magnitude and phase). The dynamic equivalents are evaluated in the New England system. The swing curves of the internal system generators obtained with the complete system are compared with those obtained with the equivalent system. The dual-input power system stabilizer models considered in this work are in the Brazilian system stability database.