Renewable Portfolio Standards(RPS) is a regulation that requires a renewable energy generated from eco-friendly energy sources such as biomass, wind, solar, and geothermal. The RPS mechanism generally is an obligatory policy that places on electricity supply companies to produce a designated fraction of their electricity from renewable energies. The domestic companies to supply electricity largely rely on wood pellets in order to implement the RPS in spite of undesirable situation of lack of wood resources in Korea. This means that the electricity supply companies in Korea must explore new biomass as an alternative to wood. Palm kernel shell (PKS) and empty fruit bunch (EFB) as oil palm wastes can be used as raw materials used for making pellets after their thermochemical treatment like torrefaction. Torrefaction is a pretreatment process which serves to improve the properties including heating value and energy densification of these oil palm wastes through a mild pyrolysis at temperature typically ranging between 200 and $300^{circ}C$ in the absence of oxygen under atmospheric pressure. Torrefaction of oil palms wastes at above $200^{circ}C$ contributed to the increase of fixed carbon with the decrease of volatile matters, leading to the improvement of their calorific values over 20.9 MJ/kg (=5,000 kcal/kg) up to 25.1 MJ/kg (=6,000 kcal/kg). In particular, EFB sensitively responded to torrefaction because of its physical properties like fiber bundles, compared to PKS and hardwood chips. In conclusion, torrefaction treatment of PKS and EFB can greatly contribute to the implement of RPS of the electricity supply companies in Korea through the increased co-firing biomass with coal.