Pontoons used to launch fireworks for Australia Day celebrations at Lake Wendouree caught on fire after the show.
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Fire crews were called about 10pm on Saturday, with CFA members on boats with SES volunteers extinguishing the blazes.
At least three pontoons, owned by the pyrotechnician, caught on fire, and one pontoon sunk.
Most of the crowds appeared to have left by this time.
City of Ballarat chief executive Justine Linley confirmed no one was injured, and there were no dangerous goods on-board at the time.
“This event was planned for in the risk assessment, as fires on pyrotechnic pontoons are not uncommon,” she said.
“However, stronger than expected winds saw the fire continue to burn on the pontoon and resulted in one of the pontoons sinking.”
Debris, including the sunken pontoon, was removed on Sunday.
At least three pontoons caught on fire, and one pontoon sunk.
Most of the crowds appeared to have left by this time, though traffic was banked up on Wendouree Parade.
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