The news comes after the firm - owned by energy giant Iberdrola - announced 1,500 new jobs last year, bringing the total to 4,000.
ScottishPower intends to employ hundreds of additional engineers to help improve its grid network - but only if Ofgem, Britain's electricity and gas market regulator, approves the extra spending and puts a funding regime in place.
Iberdrola and ScottishPower chairman Ignacio Galan said: "We are investing Â£4bn between now and 2014 in the UK, representing 40% of our global investments, with two-thirds of this investment planned for Scotland.
"On the back of our long-term investment plans, we are creating 4,000 jobs in our networks business alone, which will see our company continue to grow and help to boost the Scottish economy."
The firm is expected to announce more details when its Ochil House office complex is officially opened by finance secretary John Swinney, along with Mr Galan.
Mr Swinney said ScottishPower's decision to bolster its Scottish presence was "testament to the quality and skills of the local workforce."
ScottishPower is a 'big six' energy supplier, along with British Gas, EDF Energy, E.ON, npower and SSE. It is taking part in the Green Deal Government scheme, which provides eligible people in the UK with home energy improvements - such as gas boiler fitting and draught-proofing.
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