This paper develops and analyzes four energy scenarios for Colombia that consider the El Niño phenomenon and the inclusion of renewable energies in the energy generation matrix for the period 2020–2035. A comparative analysis is presented between the results of the different scenarios proposed. The most relevant finding is the use of the reserve margin as an indicator of system reliability. A scenario which included 7214 MW of large-scale non-conventional renewable energy, 10,000 MW of distributed generation, and 12,240 MW of hydroelectric power was assumed, with a reserve margin of over 50%. Additionally, it was found that for the scenarios in which a generation capacity with non-conventional renewable energies of less than 10,000 MW in 2034 was assumed, the reserve margin of the system in the seasons of the El Niño phenomenon will be less than historical records of the system. Alternatively, it was found that the scenarios in which the inclusion of at least 9600 MW of the electric power generation capacity of non-conventional renewable energies proposed by 2034 offer benefits in the reduction in greenhouse gas (GHG) emissions, which contributes to the achievement of the emission reduction objectives of the Paris Agreement.