The company secured the loan in a deal comprising three tranches of 10-year facilities for £150m, £300m and £200m, respectively.
ScottishPower, a subsidiary of Iberdrola, will focus on meeting demand for electricity in the country with maximum reliability by reinforcing the structure of the network and reducing grid losses, as well as making connections available to new customers each year.
Iberdrola said that it aims to finance the UK distribution projects mainly to bolster the quality of supply ScottishPower currently offers its customers.
