The present invention relates to a power generating system which can recover exhaust heat from a working fluid of a fluid coupling and utilize the recovered exhaust heat to generate power. In the power generating system, water is supplied to a boiler (1) by a feed pump (BP) to generate steam, a steam turbine (2) is driven by using the generated steam to generate power, the steam discharged from the steam turbine (2) is condensed in a condenser (4), and then the condensed water is resupplied to the boiler (1) by the feed pump (BP). The power generating system includes a fluid coupling (10) provided between the feed pump (BP) and a motor (M) to transmit a torque from the motor (M) to the feed pump (BP) by a working fluid, and the condensed water supplied from the condenser (4) is heated by the working fluid discharged from the fluid coupling (10).