This study evaluates the technical, economic and environmental results of energy exploitation from the waste of olive oil production. A case study of olive processing wastes was carried out for the fossil fuel substitution running scenario. The olive oil production plant in Turkey was investigated for a case study. The economic and financial assessment of the investment for waste utilization includes the calculation of the economic viability parameters. It was determined that the installation of a 5 MW combined heat and power production plant and electricity production is a very attractive investment. The values of discounted payback period, the net present value, the internal rate of return and the benefit to cost ratio were calculated as 3.68 years, 7,399,096 6; 30.36% and 3.43 for a combined heat and power production plant using waste from olive oil production.