
namhaft
renowned
Well-known and respected; having a good reputation.
Für das Projekt konnten wir einen namhaften Architekten gewinnen.
We were able to secure a renowned architect for the project.
renowned / considerable
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renowned
Well-known and respected; having a good reputation.
Für das Projekt konnten wir einen namhaften Architekten gewinnen.
We were able to secure a renowned architect for the project.

considerable
Large or significant with respect to a quantity or amount. This meaning is rarer and rather formal.
Er spendete eine namhafte Summe für den guten Zweck.
He donated a considerable sum to the good cause.
'Namhaft' is derived from 'der Name' (the name). The ending '-haft' means 'having' or '-like'. Literally, then, it means having a (good) name.
Das Festival zog viele namhafte Musiker an.
The festival attracted many renowned musicians.
You can recognize the meaning of 'namhaft' from the noun: if it refers to a person or company, it means 'bekannt' (well-known). If it refers to a sum of money or an amount, it means 'beträchtlich' (considerable).
Ein namhafter Hersteller garantiert oft für gute Qualität.
A renowned manufacturer often guarantees good quality.
In the meaning 'bekannt' (well-known), the adjective is often combined with people or institutions, e.g. 'ein namhafter Wissenschaftler' (a renowned scientist), 'eine namhafte Universität' (a renowned university), or 'ein namhafter Hersteller' (a renowned manufacturer).
Die Studie wurde von einer namhaften Wissenschaftlerin geleitet.
The study was led by a renowned scientist.
The meaning 'beträchtlich' (considerable) is used mainly in formal or written contexts, especially in business or news language.
Durch die Fusion entstand ein Konzern mit namhaftem Marktanteil.
The merger created a corporation with a considerable market share.
known
Bekannt and namhaft can both describe a person or company that many people know. Bekannt mainly describes how widely this knowledge is shared, while namhaft additionally emphasizes a good reputation or professional standing. Use „bekannt“ for mere Bekanntheit and „namhaft“ when the person or company has an esteemed standing.

Der Arzt ist als namhafter Spezialist in der ganzen Stadt bekannt.
The doctor is known throughout the city as a renowned specialist.
Der Arzt ist in der ganzen Stadt bekannt.
The doctor is well-known throughout the city.