Rapid expansion of steam in turbines and nozzles cause condensation. The formation of liquid droplets due to condensation results in wetness losses, which include aerodynamic losses (due to friction between liquid droplets and the vapour), thermodynamic losses (due to irreversible latent heat addition), and braking losses (due to the impact of liquid droplets on the turbine blade). In this study, a numerical investigation of the thermodynamic loss in a nucleating steam flow is performed. The thermodynamic loss is calculated using the change in entropy due to condensation. The effect of different operating conditions on the thermodynamic loss is estimated for a nozzle and turbine cascade in a nucleating flow. The non-equilibrium condensation in high-speed steam flows is modelled using Eulerian-Eulerian approach.