As a heat transfer fluid
Water and steam are used as heat transfer fluids in diverse heat exchange systems, due to its availability and high heat capacity, both as a coolant and for heating. Cool water may even be naturally available from a lake or the sea. Condensing steam is a particularly efficient heating fluid because of the large heat of vaporization. A disadvantage is that water and steam are somewhat corrosive. In almost all electric power plants, water is the coolant, which vaporizes and drives steam turbines to drive generators.
In the nuclear industry, water can also be used as a neutron moderator. In a pressurized water reactor, water is both a coolant and a moderator. This provides a passive safety measure, as removing the water from the reactor also slows the nuclear reaction down.