nonzero

Here’s what worked for me.

• Download and install MinGW.
• Add x:\mingw\bin to your PATH. (Right click My Computer | Advanced tab | Environment Variables | Select ‘Path’ from the ‘System variables’ list | Edit | Append ‘;x:\mingw\bin’ to the end of the string in ‘Variable value’)
• Download and execute the PostgreSQL one-click installer.
• Download and extract psycopg2
• From within the extracted psycopg2 directory, execute the following command:
  python setup.py build_ext --compiler=mingw32 build

Your goodies will be in the local build directory.