You can refer to NREL website.. There are few supporting documents which gives a detailed performance and cost benefit analysis of biomass. That might help you..
Generally, you have to consider electrical efficiency of the conversion process. This strongly depends on technology, fuel and nominal power, so there is no general number for this. You have to multiply electrical efficiency with the energy content (heating value)of your biomass. Of course, if you want to achieve kWh as result and your heating value is in kcal per kg, than you have to convert this heating value. You will easily find conversion factors from kcal to kWh.
As Andreas states, the equation depends so, so much on the technology. I would really question the value 1.16 in the equation you give. That means a thermal efficiency of about 28% - not unreasonable, but there are so many ways to burn so many sorts of biomass, you need to select the one you are considering, finds its efficiency, and state it. As Nallapaneni suggests, try the NREL website and go on from there.
Refer to our recently published paper for useful info.
Olupot, P.W., et al., Characterization of rice husk varieties in Uganda for biofuels and their techno-economic feasibility in gasification. Chem. Eng. Res. Des. (2015), http://dx.doi.org/10.1016/j.cherd.2015.11.010
You can see the publication of Caputo et al. (2005), about combustion and gasification of biomass, they worked with the capacity of different plants too.
Article Economics of biomass energy utilization in combustion and ga...
You should consider the moisture content of biomass to determine the net calorific value. Moisture content is an important factor that greatly reduces the calorific value of biomass.