The hot forming process of steel requires temperatures of up to 1300°C. Usually, the invested energy is lost to the environment by the subsequent cooling of the forged parts to room temperature. Thermoelectric systems are able to recover this wasted heat by converting the heat into electrical energy and feeding it into the power grid. The proposed thermoelectric system covers an absorption surface of half a square meter, and it is equipped with 50 Bismuth-Telluride based thermoelectric generators, five cold plates, and five inverters. Measurements were performed under production conditions of the industrial environment of the forging process. The heat distribution and temperature profiles are measured and modeled based on the prevailing production conditions and geometric boundary conditions. Under quasi-stationary conditions, the thermoelectric system absorbs a heat radiation of 14.8 kW and feeds electrical power of 388 W into the power grid. The discussed model predicts the measured values with slight deviations.