A CCPP includes a gas turbine, a HRSG, a steam turbine a flash tank and first and second supply lines. The gas turbine, the HRSG and the steam turbine are interconnected to generate power. The gas turbine may include an air preheating system to preheat the air supplied in the gas turbine to enable expedite combustion therein. The flash tank is fluidically connected at a cold end of the HRSG to extract waste hot water from the cold end. Further, the first supply line is configured to interconnect the flash tank and the steam turbine to supply of flash steam to the steam turbine. Furthermore, the second supply line is configured to interconnect the flash tank and the air preheating system to supply hot flash condensate thereto.