Studies that quantify forest bioenergy potentials hardly address the questions of site quality, proportion and type of residues removed from the stands, and environmental impacts of those removals. However, those factors are important for energy-potential results and forest sustainability. This study compares, in terms of residual biomass availability for energy production and of sustainability, different locations, site indices, and forest management strategies in Eucalyptus globulus stands for pulp and paper in northern and central Portugal. A growth and production simulator was used to calculate the availability of residues and the area needed to supply a biomass-fired power plant under a variety of scenarios. Regions with more rainfall generate more residues, but site index and quantity and type of residues harvested are the most important factors. Under the different scenarios analyzed, the amount of residues potentially harvested range from 0.7 to 4.3 Mg ha−1 a−1, the upper bound corresponding to a scenario where stumps are valorized. The maximization of residue removal maximizes the bioenergy produced but has to be considered prudently. Studies indicate that stump removal has limited effect on Eucalyptus globulus stand productivity, diversity, and system sustainability, but impacts of residue removals increase with a decrease in site index.