An apparatus for cooling N heat-producing devices, where AT is an integer no smaller than one, using a cooling fluid that may be supplied at a temperature below the dew-point temperature of ambient air. To avoid condensation on the heat-producing devices, the cold fluid is warmed, upstream of the heat-producing devices, to a temperature T.sub.0 that is above the dew-point. The warming is accomplished, in a heat exchanger, by the warm fluid returning from the heat-producing devices. The amount of warming is controlled by periodically measuring T.sub.0 as well as the N temperatures downstream of the N heat-producing devices, and sending these N+1 temperature measurements to a control element that implements a control algorithm whose purpose is to achieve a set-point value of T.sub.0 by regulating, via N control valves, the flow of fluid to the N heat-producing devices. Also provided is a method for cooling the N heat-pro during devices pursuant to the inventive apparatus by a temperature control over the cooling fluid.