Thermodynamic cycles to produce power and cooling simultaneously have been proposed for many years. The Goswami cycle is probably the most known cycle for this purpose; however, its use is still very limited. In the present study, two novel thermodynamic cycles based on the Goswami cycle are presented. The proposed cycles use an additional component to condense a fraction of the working fluid produced in the generator. Three cycles are modeled based on the first and second laws of thermodynamics: Two new cycles and the original Goswami cycle. The results showed that in comparison with the original Goswami cycle, the two proposed models are capable of increasing the cooling effect, but the cycle with flow extraction after the rectifier presented higher irreversibilities decreasing its exergy efficiency. However, the proposed cycle with flow extraction into the turbine was the most efficient, achieving the highest values of the energy utilization factor and the exergy efficiency. It was found that for an intermediate split ratio value of 0.5, the power produced in the turbine with the flow extraction decreased 23% but the cooling power was 6 times higher than that obtained with the Goswami Cycle.