Development of a model predictive control(MPC) algorithm and its application to the condensate recycle process of a cogeneration power station has been conducted. The cogeneration power station has different characteristics from other industrial processes where MPC has been dominantly applied in that the operating mode changes continuously with seasons and we Ether. Such a characteristic makes it difficulty, a linearized model was derived from mass and pressure balances and linearization. The MPC algorithm has been developed so that the controller tuning is easy with one tuning knob for each output and the constrained optimization is solved by an interior point method. Performance of the MPC algorithm has been verified with the numerically simulated process under various disturbance scenarios and mode changes.