Understanding the thermal performance of power modules under liquid nitrogen cooling is important for the design of cryogenic power electronic systems. When the power device is conducting electrical current, heat is generated due to Joule heating. The heat needs to be efficiently dissipated to the ambient in order to keep the temperature of the device within the allowable range; on the other hand, it would be advantageous to boost the current levels in the power devices to the highest possible level. Projecting the junction temperature of the power module during cryogenic operation is a crucial step in designing the system. In this paper, we present the thermal simulations of two different types of power metal-oxide semiconductor field effect transistor modules used to build a cryogenic inverter under liquid nitrogen pool cooling and discussed their implications on the design of the system.