Sugarcane is one among the most efficient crops in the world in converting energy from sunlight into chemical energy that is usable as a fuel source for cogeneration and paper making purpose. Germplasm is the basic raw material with repository of beneficial traits. Constant evaluation and characterization of the existent, yet uncharacterized germplasm is useful and is the cornerstone for the development of new and better varieties. A systematic study was conducted to evaluate the one hundred and thirty one germplasm accessions including four checks for quality and yield attributes. All the varieties varied greatly for different traits. Germplasm accessions possessing traits related to cogeneration and paper making were grouped and elucidated. Germplasm accessions viz., 85R186, 97R383, BO91, 93R113, 97R7, 83V288, 97R424, 2000A213, 2002V2, 94A73, and 2005T89 are reservoirs for different parameters and they can be exploited in breeding programmes for production of promising sugarcane varieties suitable for cogeneration and paper making purpose.