This study presents a methodology for assessing the technical and economic potential of electricity generation from biomass residues, using thermochemical conversion technologies. Applied in the state of Minas Gerais, Brazil, the analysis focuses on residues from corn, soybean, coffee, eucalyptus, and sugarcane. A multi-criteria decision-making (MCDM) approach, integrated with GIS, was used to identify the most viable biomass sources and most suitable conversion technologies, namely the Rankine cycle, organic Rankine cycle, and gasification with internal combustion engines, based on Technological Readiness Levels (TRLs). Eucalyptus emerged as the most suitable residue due to its high energy density, while sugarcane residues were the most abundant. The economic feasibility analysis indicates levelized costs ranging from USD 0.10 to USD 0.24 per kWh, with the conventional Rankine cycle emerging as the most cost-effective option for plants with a capacity exceeding 5 MWe. The proposed methodology supports strategic bioenergy planning by integrating geospatial, technological, and economic factors.