ImportError: DLL load failed : - when trying to import psycopg2 library

According to this thread you need to install an earlier version since there were problems with the latest build.

Simply install an earlier version, (2.0.10 works great), even with PostgreSQL 8.4.x series.

You can also try installing win-psycopg from here

On Windows, make sure your path includes the Postgres bin directory. In my machine it's c:\Programs\PostgreSQL\9.3\bin.