However, drivers will enter at their own risk after Griffith City Council issued a red alert warning for blue-green algae last week.

Griffith Boat Club race secretary Scott Collis said the event would not be cancelled.

“The event will go ahead, but we can in no way advise people to enter the water,” Collis said.

“All the drivers and crew will follow a protocol and spectators shouldn’t be in the water.”

Collis said the club had not considered cancelling the event.

“We’ve got drivers coming from Asia and a team from Tasmania and a team from Queensland,” he said.

“We’ve already ordered all our food and drink.”

Collis said the blue-green algae issue was frustrating.

“I think the level of algae that is there needs to be disclosed,” he said.

Council has advised residents not to enter the lake for recreational activities due to the high level of blue-green algae.

This weekend’s event will see drivers in the Formula Optimax, Formula SST120 and Formula 3 classes compete for points towards the 2015 Australian Championship.

The race program will include the debut of the International Formula 4 class, along with the Formula Futures (juniors) and the high-speed six-litre inboard hydroplanes.

There will also be onshore activities for spectators.

The Yenda-based Australian Beer Company is the major sponsor of the event. Australian Beer Company  general manager Derek O’Donnell said his business was passionate about supporting local events.

“Supporting this event and bringing it to the region is a great opportunity to introduce this exciting and colourful sport to the people here, for the visitors to enjoy the attractions of Griffith and its surrounds, and hopefully help support the local Griffith business community,” O’Donnell said.

Teams and crews will arrive in Griffith with their boats on Thursday.

Racing starts at 9am on Saturday and Sunday. Tickets are available at $10 for adults. Children are free.