In the coming years, numerous regions are expected to suffer from water scarcity. One of the technologies of great interest in facing this challenge has been the generation of freshwater through water desalination, a process that reduces the amount of salt and minerals to a standard level, making the water suitable for drinking or agricultural/industrial use. The efficiency of each desalination process depends on the concentration of salts in the raw water and the end-use of the produced water. The present study presents the exergetic and exergoeconomic analyses of the coupling of a power plant with desalination units for the simultaneous generation of energy and water in Iran. The plant is integrated, first, with a multi-stage flash (MSF) unit and, then, with a multi-effect desalination (MED) unit. We find that the cost of exergy destruction of the MED and MSF integrated plants is lower when compared to the standalone power plant by about 0.1% and 9.2%, respectively. Lastly, the freshwater production in the plant using MED is significantly higher than that in the plant with MSF (1,000 versus 1,521 kg/s).