A unique method and ternary cycle process that captures heat from low temperature sources currently considered not commercially usable to produce electricity and desalinate water. In one cycle a novel flash tower operating at vacuum pressure causes a fraction of low temperature water to flash into steam. The steam passes to an indirect heat exchanger with a circulating refrigerating agent such as CO2, which condenses the steam on its outside surfaces to produce desalinated water product. The steam heat of condensation vaporizes the refrigerating agent, which is part of a binary refrigerate cycle that uniquely conditions it for turbine expansion to produce electricity in a connected electric generator.