Welcome to PF.
This appears to be a three-phase AC alternator, not exactly a generator.
T32 may be the slip ring terminals, not a regulator. The current in those coils regulates the field, and so the voltage generated. G3 provides the rotating dipole field.
At the bottom, P1-P2 is a current transformer sensing the AC current from V2. That is the sensing part of a current limiter or protection circuit.
Just what G2 is for, I yet know not.
What is the make and model of the unit?
Does it have slip rings, or is it brushless, transformer coupled, like a marine unit?