A thermoelectric power generator and method of generating thermoelectric power in a steam power cycle utilizing latent steam heat including a condenser, a heat source, such as steam, and at least one thermoelectric module. The condenser includes a plurality of condenser tubes each having included therein a heat extractor. The heat source is in communication with the condenser and is characterized as providing thermal energy to the condenser. The at least one thermoelectric module, including a plurality of thermoelectric elements, is positioned in communication with at least one of the plurality of condenser tubes so that thermal energy flows through the thermoelectric elements thereby generating electrical power.