Food waste is a significant issue in many developed and emerging countries and has significant environmental, social, and economic impacts. As China's urban population increases and restaurants expand, so does food wastage, resulting in many environmental and social issues. Therefore, this study investigates how the economic feasibility and environmental benefits of energy generation using biogas from food waste in Jiangsu Province can help achieve sustainable development goals and China's 14th Five-Year Plan. This study used Buswell's formulation, mathematical formulation, and economic metrics methods to analyze data from 2004 to 2020. The findings of the study are as follows: 1. The results show that 109.1 Mt. of food waste was produced in Jiangsu Province. 2. The total amount of electricity production potential from biogas yield during the 17 years is 16,126.0 GWh. 3. The study revealed that 3090.32 million tons (3.43% of the coal employed for energy production during the period) of coal combustion could be saved. 4. This prevented the release of 7262.26 million kilograms of carbon dioxide, 149.49 million kilograms of nitrous oxide, and 996.63 million kilograms of methane emissions. 5. The avoided coal consumption also helped reduce global warming by 76,727.33 kt of CO2 equivalent. 6. The project is economically beneficial with a shorter net present value (NPV) for 1 year, a positive NPV (US$34.7 Million), an internal rate of return (23%), a return on investment (33.0%), and a lower levelized cost of energy (US$ 0.039/kWh). Policy recommendations are also discussed.