Namibia is endowed with abundant renewable energy resources, particularly solar, wind and biomass. However, its electricity sector has historically been monopolised and heavily dependent on electricity imports. The centralised Single Buyer (SB) model led to stifled competition in the sector, low energy security, limited private sector participation and slow uptake of renewables. Consequently, the country has faced persistent challenges related to energy security, affordability, and diversification of generation sources. To address the identified challenges, the Modified Single Buyer (MSB) model was introduced in 2019, allowing broader market participation and competition. The MSB framework represents a transitional hybrid market structure designed to open limited competition by allowing eligible customers and independent generators to engage in bilateral power purchase agreements (PPAs). The reform seeks to catalyse private investment, promote renewable energy deployment, and reduce dependence on imported power. This study investigates the impact of the MSB model in promoting renewable energy deployment in Namibia by analysing policy documents, market data, and generation statistics. It identifies regulatory, financial and infrastructural challenges that influence the operationalisation of the model and offers policy recommendations. The findings reveal that the MSB has successfully attracted new IPPs and facilitated several solar PV projects. However, the implementation remains slow as several barriers continue to limit its full potential. Most projects under the MSB remain inactive or unlicensed due to regulatory and financial barriers. The study concludes that while the MSB model marks a positive step towards a competitive and sustainable electricity market, further regulatory refinement, institutional coordination, and investment facilitation mechanisms are required.