ADAM Victor is at it again.

Victor, you might recall, is the wacky (if brilliant) gadfly who offered the MTA $1 billion for the West Side stadium site – more than both of the other two bidders, the Jets and Cablevision.

This time, he’s sticking his nose in another hornets’ nest: plans to turn two miles of industrial wasteland in Brooklyn into a spectacular public waterfront and residential development.

And guess what?

He might have a way to break the stalemate – just as the City Council’s Land-Use Committee gets set to vote on the matter tomorrow.

And – oh, yeah – at the same time, he’d help solve a brand new crisis facing Gotham: not enough electricity.

What’s Victor’s plan?

To build a power plant in the area, almost totally hidden from view, and donate $250 million of his company’s money toward housing subsidies.

Those subsidies would address the top gripe against the waterfront plan: not enough “affordable housing.” Officials and developers envision subsidies for 23 percent of the units planned. But foes want up to 40 percent, which might make the project economically infeasible. Victor’s cash could bridge the gap.

Meanwhile, his unseen plant would pump 1,100 megawatts of juice, an amount used by 1.1 million homes.

That would do much to stave off a power shortage and keep lights lit and computers humming.

Don’t know about any power shortage? No wonder: Bloomberg officials deny there is one.

But the folks that run the state’s electricity market just issued a dire warning: “New York could be facing a supply deficiency between 2008 and 2011.”

And the New York Independent System Operator fears trouble in the city and on Long Island even sooner.

No – no need to run out for flashlights just yet. NYISO predicts enough power this year, including peak periods this summer.

But things are set to get hairy in two to three years, when plant closings and rising demand will add up to serious shortfalls.

In Gotham, Nassau and Suffolk, trouble could come even sooner: There, supplies “are projected to fall substantially below current requirements” within the next few years and are “clearly flashing caution.”

Says NYISO, “Action needs to be taken promptly” to maintain “adequacy of resources.”

What kind of action?

More power plants.

Yet, despite this, the Bloomberg folks are intent on killing Victor’s plant. They say it’s “incompatible” with their development, that builders won’t put up fancy new towers near a plant.

Oh, really?

Then why do luxury high rises coexist happily beside such plants all over the city?

And those plants are above-ground; Victor, again, would hide his underneath a park (paid for, of course, by . . . him).

What’s more, last month the city’s own engineer concluded that in nearly every way, the plant would not be incompatible with new development, even if built above ground. The one exception: It might block views and prove unsightly.

But again, that’s if it’s built above ground; Victor wants to slip it under the park.

Victor’s new offer – the $250 million for housing subsidies (plus another $250 million worth of park construction) – should at least make the critics think again about their options.

After all, Victor’s cash can satisfy both the demand for more housing subsidies and the developers’ need to ensure a profit.

And his electricity can help keep the city running.

On the other hand, if Victor’s offer is rebuffed, the whole waterfront deal may well die next week, nobody would get anything – and darkness may literally descend upon the land.

An obvious choice, no?