Abstract: The inventive wave electric power plant is used for converting surface wave energy, and relates to hydraulic power engineering. The aim of the invention is to design a reliable, long-life and low material content wave electric power plant exhibiting a stable, increased performance for the extended range of wave parameters. The aim is achieved by the fact that the wave electric power plant comprises an energy absorbing element (3) in the form of a flexible longitudinal body and working shafts (2) which are sufficiently floatable and used as a common platform. The energy absorbing element (3) consists of individual parts interconnected in such away that they are freely displaceable with respect to each other along the working shaft (2) axis, and rigidly withstand a force acting in a vertical direction. The structure is provided with a dipping system (11) and stabilizers (7).