2MW isn't really enough - a 5 car IET would need at least 4MW to recharge in a reasonable amount of time. The test 802 had a range of 43 miles on one converted GU with a battery capacity of 700KW. If all 3 were converted this would lead to a range of 129 miles and a battery capacity of 2.1MW. If this battery were to be recharged at an average rate of 2C, enabling a full service recharge between Cogload and Exeter, this would require a power draw of 4MW before even considering operational interactions. Remember the 802 battery was nowhere near the cutting edge in battery design and that enables London-Penzance with a single section of new electrification with existing units.
It should be noted that a 5-car IET has two pantographs, I mst admit when talking about 2MW I was considering units more along the lines of the Class 377 than an IET.
4MW would still allow 80A per pantograph. (EDIT #2: The battery had a peak power of 700kW, but I've not seen a solid figure for the actual kWh rating of the battery pack)
I think Exeter to Cogload junction is likely a poor place for a segment of electrification for charging.
The best places are places with low linespeeds as well as single track sections because they reduce the amount of physical electrification that must be installed. We will certainly need a powered zone in Exeter to support the various lines radiating from it, but extending out towards Taunton is probably suboptimal.
But we will also need to provide a power supply in Plymouth and Penzance/St Erth, and probably in the vicinity of Par, Truro. One long segment probably isn't optimal in that situation.
With a battery train under electrification, operational load can pretty much be smeared out to equilibrium power demand, which will be significantly under 2MW for a 9-car set at 125mph.
EDIT:
You get 20 minutes of charging for the 10 route kilometres between Saltash and Laira Depot, and the power supply can be shared with charging systems at Laira. As well as providing charging services to the local services in the Plymouth Area. The Royal Albert bridge would be annoying and expensive on a per kilometre basis but, even if it costs far more than "ordinary" electrification per metre, I think the 15mph speed limit and single track nature makes it attractive regardless.