Enhancing the sustainability and diversification of Iraq’s electricity system is a strategic objective. Achieving this goal depends critically on increasing the use of renewable energy sources (RESs). The significance of developing solar-powered technologies becomes essential at this point. Iraq, similar to other places with high average direct normal irradiation, is a good location for concentrated solar thermal power (CSP) technology. This study aims to recover the waste heat from the gas turbine cycle (GTC) in the Al-Qayara power plant in Iraq and integrate it with a solar power tower. A thermoeconomic analysis has been done to support the installation of an integrated solar combined cycle (ISCC), which uses concentrated solar tower technology. The results indicate that the examined power plant has a total capacity of 561.5 MW, of which 130.4 MW is due to the waste heat recovery of G.T.s, and 68 MW. is from CSP. Due to the waste heat recovery of GTC, the thermal and exergy efficiencies increase by 10.99 and 10.61%, respectively, and the overall unit cost of production is 11.43 USD/MWh. For ISCC, the thermal and exergy efficiencies increase by 17.96 and 17.34%, respectively, and the overall unit cost of production is 12.39 USD/MWh. The integrated solar combined cycle’s lowest monthly capacity was about 539 MW in September, while its highest monthly capacity was approximately 574.6 MW in April.