Process for retrofitting an industrial gas turbine engine for increased power and efficiency

A process for retrofitting an industrial gas turbine engine of a power plant where an old industrial engine with a high spool has a new low spool with a low pressure turbine that drives a low pressure compressor using exhaust gas from the high pressure turbine, and where the new low pressure compressor delivers compressed air through a new compressed air line to the high pressure compressor through a new inlet added to the high pressure compressor. The old electric generator is replaced with a new generator having around twice the electrical power production. One or more stages of vanes and blades are removed from the high pressure compressor to optimally match a pressure ratio split. Closed loop cooling of one or more new stages of vanes and blades in the high pressure turbine is added and the spent cooling air is discharged into the combustor.