The paper presents a thermodynamic analysis of gas turbine with real open cycle. Gas turbine operates in combined heat and power (CHP) system. Analysis is provided by using measured operating parameters of operating mediums (air and combustion gases) in all required operating points. Cumulative real turbine developed power amounts 78611.63 kW. In the whole gas turbine process, the highest losses occur in combustion chambers during the heat supply process and amounts 13689.24 kW. Turbine power losses are equal to 7976.22 kW, while the turbo-compressor power losses amounts 4774.24 kW. While taking into account all analyzed gas turbine components, the highest efficiency of 90.79% has turbine, followed by combustion chambers which efficiency is equal to 89.01%. Turbo-compressor efficiency amounts 88.59% and the whole gas turbine cycle has efficiency equal to 33.15%.
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