Techno-economic Feasibility analysis is defined as the application of specific economic principles to mainly technological investments. It deals with the comparison and evaluation of alternative solutions. To what extent an investment can be recovered together with some additional benefit which is proportional to the risk to which the initial investment is exposed as well as the benefit that could be obtained by investing the available capital in some other alternative opportunity. The Feasibility Study supports the investor or authorities to make an investment decision regarding the project.