In this study, a new cogeneration system is presented that can make optimal use of the waste heat from the sCO2 power cycle using a double-effect parallel absorption refrigeration cycle (DEARC), generating electricity and refrigeration simultaneously. A comparative study between the proposed (sCO2/DEARC) system and the stand-alone sCO2 power system is conducted to show its advantages and potential. The performances of the sCO2 and sCO2/DEARC systems are evaluated from the energetic and exergetic points of view using an in-house developed thermodynamic simulation platform via Engineering Equation Solver (EES) software. Variables such as pressure ratio, turbine inlet temperature, and evaporator temperature are also used for parametric analysis. The results indicate that the proposed system can generate of 132.72 MW cooling capacity. Also, the results show that the proposed sCO2/DEARC system can achieve a 55.8% and 5.2% improvement in thermal efficiency and exergy efficiency, respectively, with a negligible decrease in net power output (Wnet) compared to the stand-alone sCO2 power plant.