The equipment, valued at more than $10,000, was discovered hidden in scrub on the shore of Lake Mulwala on Yarrawonga’s eastern fringe, near the Silverwoods resort.

It had been stolen early on Tuesday morning from the intersection of the Murray Valley Highway and the Barnawartha-Howlong Road, where it was being used for traffic safety while realignment works were undertaken.

It is owned by Myrtleford company GW&BR Crameri Pty Ltd.

Betty Crameri said a member of the public found the smashed traffic light at the end of Hogans Road near Lake Mulwala on Wednesday.

Its number plate T68032 was missing, as was the master control unit, while its solar lights were smashed and ripped from the trailer.

“I would say someone has stolen this for spare parts, but why would they would smash the solar panels?” Mrs Crameri said.

“I don’t know why, they’re worth about $500 each.”

Mrs Crameri said because the master unit had been destroyed, another subsidiary mobile traffic light, which had been damaged at the worksite on Tuesday morning, would also no longer be useable.

The thieves had dragged the stolen equipment down to the driveway of Gehrig’s Winery before smashing its locks and driving away.

Mrs Crameri said it was a Sykes brand unit which is no longer made.

“The lights will be a write-off, as parts are no longer available for the Sykes brand,” she said.

Sen-Constable Rod Keenan, of Yarrawonga police, said the damaged unit had been found about 10.30am Wednesday between a park and paddock.

He said the area was not known as a dumping ground.

Forensic officers have examined the traffic light trailer.

Sen-Constable Keenan said there had been attempted house burglaries in the Woodlands area close to where the light was found, but it was unclear if there was a link.

Anybody with information about the theft is urged to phone Yarrawonga police on (03) 5744 3641.