This article deals with the stator cooling of an air-cooled, synchronous generator with a power rating of 400 kVA, which has been improved by adding two radial vents to the stator. To ensure an optimal vent design, a novel combined thermal and electromagnetic modelling approach is developed. A parametric 3D Conjugate Heat Transfer Computational Fluid Dynamics (CFD) model is used for the thermal modelling. An electromagnetic 2D Finite Element Analysis determined the impact that venting the stator has on the loss distribution. The models are coupled by deriving analytical correlations between the combined vent width and rotor copper, rotor iron and stator iron losses. These correlations are implemented into the optimisation procedure of the parametric CFD model. Five design parameters are optimised simultaneously with the aim of minimising the peak stator winding temperature. The modeling approach was validated experimentally by thermal, torque and mass flow measurements on the benchmark machine, as well as the newly designed prototype.