A study from the Stockholm School of Economics assesses the financial implications of Liberty Steel Galați’s shift to low-carbon steel production in Romania, crucial for the country's decarbonization goals. The research highlights the importance of on-site hydrogen production for competitive green steel manufacturing, with a 15% price premium required if hydrogen is externally sourced. The study suggests that stable electricity pricing and supportive policies are essential for the success of the transition. It emphasizes the potential cost savings if green steel is produced on-site, making it more economically viable than conventional steelmaking methods. However, challenges such as a significant increase in electricity demand, the need for electricity from fossil-free sources, and uncertainties in energy prices and policy interventions need to be addressed. The research underscores the role of green steel production in achieving climate neutrality goals and providing a blueprint for similar initiatives in the region. The study's findings have practical implications for both industry and policymakers, emphasizing the need for infrastructure development, stable electricity pricing, and supportive policies to facilitate the adoption of low-carbon steel production.