One of the problems in Russia Power Sector strategy until 2035 is the technologies development for mitigation of harmful emissions by the heat and power production industry. This goal may be reached by the transition to environmentally friendly generation units such as oxy-fuel combustion power cycles that burn organic fuels in pure oxygen. This paper provides the results of research on one of the most efficient oxy-fuel combustion power cycle, which was modified by the usage of nitrogen for turbine cooling. The computer simulation and parametric optimization approaches are described in detail. The net efficiency of the oxy-fuel combustion power cycle in relationship to the carbon dioxide turbine exhaust pressure is shown. Moreover, the influence of the regenerator scheme and modeling parameters on heat performance is obtained. Particularly, it was found that the transition to a scheme with five two-threaded heat exchangers decrease cycle efficiency by 4.2% compare to a scheme with a multi-stream regenerator.