High solar irradiation, cloud-free dry climate, abundant barren land, and low ambient temperature make Ladakh UT suitable for concentrating solar thermal power plants (CSP). The study presents a comprehensive analysis of a 10 MW transcritical CO₂ Rankine cycle power tower CSP plant. Low ambient temperature of the region allows transcritical operation, which provides high cycle efficiency. The study focuses on four aspects, viz. solar field, thermal energy storage (TES), thermodynamic cycle simulation, and off-design performance analysis. The modeling and optimization of the solar field are undertaken to capture the diurnal and annual variations of DNI levels using open source software SAM. Molten salt TES is integrated to overcome the dynamic variations of solar energy by providing stable operations and additional hours. Different storage sizes, starting from no storage to 12 hours storage on the solar field size and specifications, are also assessed. An in-house algorithm is developed for the thermodynamic cycle simulation at design and off-design operations. The effect of ambient temperature variations on the low side saturation pressure, cycle efficiency, and power output is evaluated. The proposed plant offers annual optical efficiency of 52.1%, thermal efficiency of 38%, and overall efficiency of 19.8%, respectively.