<p>This paper presents a comprehensive energy and exergy analysis of a power-cooling cogeneration system that integrates a Kalina cycle and an absorption refrigeration cycle. The system operates on an ammonia-water mixture to produce both power and cooling from a single heat source. A detailed thermodynamic model was developed and validated against a Hysys simulator, showing a maximum error of 7.32% for the turbine. The analysis reveals that the boiler, absorber, and condenser are the main sources of irreversibility, contributing to the majority of total exergy destruction due to large heat and mass transfer processes. A parametric study was conducted to examine the effects of key parameters, including mass flow rate ratio, cold and coolant water temperatures, and ammonia concentrations, on the system’s performance metrics: power efficiency, overall efficiency, exergy efficiency, and coefficient of performance (COP). The results show a trade-off between energy and exergy efficiencies. The study concludes by presenting a multi-objective optimization to find a balanced solution on the Pareto front that combines high energy and exergy performance.</p>