This study concerns a theoretical design of a condensing heat exchanger for a 320 MW unit of Bandar Abbas thermal power plant in the south of Iran. A film theory in conjunction with heat and mass transfer analogy is used as the theoretical basis of the design. The condensing unit is used for heat and mass recovery from the natural gas-fired boiler flue gases. The assumed condensing unit includes 4 equal capacity condensing heat exchangers, each of which is supposed to reduce the flue gas temperature from 160 ℃ to 53℃. Decreasing the flue gas temperature to below the dew point temperature of its water vapor causes condensation (latent) and sensible heat transfer. The analysis was done for 13%, 15%, and 17% of the water vapor volume fraction in the flue gases, and based on the 17% water vapor fraction, 52.8 tons/hr of water was recovered. This recovered water could be used as the cooling tower makeup, and accordingly, almost 14% of water consumption is saved. The recovered heat by the condensing unit is also being used as the heat source of an ORC cycle, and up to 2.8 MW power is estimated to be generated depending on the evaporation temperature.