The partners will collaborate to identify potential projects and clients, as well as on consulting and engineering the final implementation of the high-voltage infrastructure.
Siemens and Elia Grid will also explore ways to improve and upgrade existing energy infrastructure.
The companies intend to initially develop projects in countries south of the Sahara Desert.
Siemens Belgium-Luxembourg CEO AndrĂ© Bouffioux said: "Together we will ensure that the available energy gets to its destination – anywhere in the world – while paying close attention to economic efficiency, climate, available local resources and public acceptance. In this way, we are drawing up a reliable energy roadmap for the future."