The "Out of Memory" error is typically a dialogue box that comes up in PSCAD. The message is actually comeing from the Windows operating system and is telling you that the PSCAD Graphic User Interface (GUI) is trying to request more than 2 GB of ram. All 32 bit applications on a Windows operating system has a limit of 2GB that they can address.
The solution to this is to run the 64 bit version of PSCAD.
If you require a download or upgrade for this, you can contact firstname.lastname@example.org