The exergy analysis for different components of 45 MW cogeneration thermal power plant of Qena Paper Industry Company (QPIC) was studied. The study was carried out to analyze each component separately and to identify and quantify the exergy losses for each component in the cogeneration power plant. In addition, the effect of varying the reference ambient temperature on this analysis was investigated. The results showed that, the exergy destruction rate increases with increasing the ambient air temperature in all system components. The major contribution to exergy destruction comes from the boiler and it increases as the ambient air temperature increases. In addition , at full load operation and ambient temperature of 18 o C, 23 o C, 29 o C, 36 o C and 45 o C the percentage of the exergy destruction for boiler, deaerator and condenser are 78.9%, 79%, 80%, 80.2%, 80.5% and 3.6%, 3.5%, 3.5%, 3.4%, 3.3% and 3.1%, 2.5%, 1.87%, 1.1%, 0.6%, respectively. Keywords-steam power plant; cogeneration; ambient temperature ; exergy analysis; exergy destruction; exergy efficiency. I. INTRODUCTION Cogeneration power plant is an efficient, clean and reliable approach to generating electrical energy as well as supplying thermal energy using a single fuel. Namely, cogeneration that sometimes uses discarded heat by recycling this waste heat, achieves a dramatic improvement in the system's efficiency. Otherwise, it extracts heat at any point during the expansion in the turbine to produce thermal energy for industrial applications. The main advantages of cogeneration are, the comparatively higher efficiencies, reduce air emissions such as nitrous oxide (N 2 O), sulfur dioxide (SO 2) and carbon dioxide (CO 2) which increases the greenhouse effect associated with climate change. Nowadays, about 80% of electricity in the world is approximately produced from fossil fuels (coal, petroleum, fuel-oil, natural gas) thermal power plants, whereas 20% of the electricity is compensated from different sources such as hydraulic, nuclear, wind, solar, geothermal and biogas [1, 2]. Energy consumption is one of the most important indicator showing the development stages of countries and living standards of communities. Population increment, urbanization, industrializing , and technologic development result directly in increasing energy consumption. This rapid growing trend brings about the crucial environmental problems such as contamination and greenhouse effect. Generally, the performance of thermal power plants is evaluated through energetic performance criteria based on first law of thermodynamics, including electrical power and thermal efficiency. In recent decades , the exergetic performance based on the second law of thermodynamics has found as useful method in the design, evaluation, optimization and improvement of thermal power plants [3]. Many researchers have already done a good amount of work in the subject of exergy analysis of thermal power plants. Regulagadda et al. [3] achieved a detailed parametric study of energy and exergy analysis of a subcritical boiler-turbine generator for a 32 MW coal-fired power plant in India. Both energy and exergy formulations are developed for the system. This study was conducted for different operating conditions , including different operating pressures, temperatures and flow rates. The results showed that the maximum exergy destruction for the boiler and turbine were 86.7% and 7.6%, respectively. Kamate and Gangavati [4] performed an energy and exer-gy analysis of bagasse-based cogeneration plant, located in Belgaum in India. The capacity of the plant was 44-MW. The analysis was carried out for a wide range of steam inlet conditions selected around the sugar industry export cogeneration plant. They demonstrated that the percentage ratio of the exer