We investigated the potential of low-temperature pulsed sputtering deposition (PSD) for the fabrication of high-In-composition thick InGaN multiple quantum wells (MQWs). Low-temperature PSD growth allowed the growth of a 100-period 1.2-nm-thick In0.3Ga0.7N MQW on GaN bulk crystals without apparent lattice relaxation. We fabricated a nitride-based photovoltaic device using 100-period In0.3Ga0.7N MQW absorption layers and obtained a clear photovoltaic response with an open-circuit voltage of 1.24 V, a short-circuit current density of 1.76 mA·cm−2, and a maximum output power density of 1.10 mW·cm−2 under 1 sun with air mass 1.5 illumination.