If you cannot get the LM2596 library to work, the is an almost drop-in replacement and is frequently pre-installed in Proteus 8.
Prepare the model file
The purpose of this report is to discuss the availability, creation, and usage of the voltage regulator library within Proteus Design Suite (specifically Proteus ISIS for schematic capture and ARES for PCB layout). lm2596 library for proteus
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