A combined thermal power and cooling cycle is proposed which combines the Rankine and absorption refrigeration cycles. It can provide power output as well as refrigeration with power generation as a primary, goal. Ammonia-water mixture is used as a working fluid The boiling temperature of the ammonia-water mixture increases as the boiling process proceeds until all liquid is vaporized, so that a better thermal match is obtained in the boiler. The proposed cycle takes advantage of the low boiling temperature of ammonia vapor so that ii can be expanded to a low temperature while it is still in a vapor state or a high quality two phase state. This cycle is ideally suited for solar thermal power using low cost concentrating collectors, with the potential to reduce the capital cost of a solar thermal power plant. The cycle can also be used as a bottoming cycle for any thermal power plant This paper presents a parametric analysis of the proposed cycle.