Shunt Reactors are provided for the long lines in the Substations. You might have heard about ferranti effect. During Low Loads there will be high voltage in the Load end and converse during higher loads.
The Shunt Reacyors will be included/ taken out in the circuit during the above conditions.
For 400 kV system, 80 MVAr Shunt Reactor shall be used, 220 kV, 60 MVAr Shunt Reactor, 132 kV ,30 kVAR shall be used.
Reactors in series, otherwise known as inductors are really used to oppose major changes in incomming AC and prevent noise, ( Choke Coils ) Same as reactors. Either way they are used in the industry to clean up the AC while using VF Drive which really disturb the Grid.