Scottish and Southern Energy plans to invest £8bn over the next five years.
The Perth-based power company, which trades north of the border as Scottish Hydro-Electric, has earmarked £3.5bn of the total for Scotland.
A further £1.5bn has not been designated to any area, but much of it is expected to be on renewable energy in Scottish waters and in hydro power.
The company claims it will help create 7,000 contractors' jobs in Scotland, on top of the 5,000 staff it already has.
Projects approved for capital expenditure by SSE include the large onshore wind farms Clyde and Griffin, and up to 12 other sites. It also plans to upgrade its hydro projects, including pump storage projects near Loch Ness.